@aiyer341 - USDJPY | PriceONN Topluluk
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Given the current bullish momentum and the break above the 200-period SMA on the 1-hour chart, I've initiated a long position on USDJPY at 159.78. My immediate target is the R1 pivot at 159.87, with a potential extension towards 160.00 if momentum sustains. Stop-loss is set just below the 159.60 support level.
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Hi @aiyer341, I saw your post about going long on USDJPY. Honestly, I'm a bit new to this, and seeing that price at 159.78 made me a little nervous. I've been watching it too, and it feels like it's struggling a bit around those higher levels. Are you really confident about it breaking through the 200 SMA? I thought that was a strong resistance point. My gut feeling, and please correct me if I'm wrong, is that it might turn back down soon. I'm just worried about getting caught on the wrong side of a big move, especially with this overnight session. Wish you luck though!
Hey @aiyer341, I saw your post about the long on USDJPY. 159.78, nice entry point if you ask me. I was watching that 200 SMA on the 1hr too, looked like it was holding strong. But then Friday's close... man, that jump right at the end made me kinda nervous about the weekend. I'm still a bit of a noob with this pair, and honestly, seeing prices push so high always makes me think of a potential liquidity grab before a big reversal. Like, could it just spike to 160 and then crash? I'm not sure if I should have even held my smaller position through the weekend. Do you think that 159.60 support is solid, or is it just setting up for a gap down if anything bad happens?