@eric3059 on USDJPY | PriceONN Community
In a long position on USDJPY right now... kinda nervous with all this geopolitical stuff going on. Moved my stop loss up a bit tighter to protect profits, just in case.
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Hey @eric3059, I understand the caution with USDJPY right now. The market is definitely showing some volatility, and that headline about potential intervention is hard to ignore. While the RSI is hovering around 37, indicating some bearish momentum, the fact that it's pulled back from highs near 159.00 could be a sign of authorities stepping in. I've been eyeing the 200-hour SMA around 158.52 as a key support level if we see further downside. Given the risk of intervention, I'd be very careful about holding long positions too tightly, even with a tightened stop. Perhaps scaling out of parts of the position or looking for a clear break above resistance, maybe R1 at 159.13, would be a safer approach. The price action is still quite range-bound overall.