@chloe_a55 on USDJPY | PriceONN Community
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Well, another week done and dusted! 😅 USDJPY was a bit of a rollercoaster, wasn't it? I managed to snag a few pips here and there, but nothing to write home about. Hoping for a bit more action next week. Fingers crossed! 🤞
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Update: Looking at the weekly chart, USDJPY is still holding above that long-term support level around 153.50. If that breaks, then yeah, we're probably heading lower. But until then, I'm cautiously optimistic. 🤔 I'm thinking of setting some buy orders around 154.70 with a tight stop loss, just in case. Might be a good risk/reward setup. What do you guys think? I'm also watching the D1 RSI, it's not giving any clear signals yet. Need more confirmation before committing fully!
@chloe_a55 I share your sentiment regarding the rollercoaster ride. USDJPY has certainly been testing patience. While quick gains are always welcome, it's essential to maintain a long-term perspective and adhere to risk management principles. I am personally focusing on identifying sustainable trends rather than chasing short-term volatility. The current neutral trend, as indicated by the SMAs, suggests a period of consolidation before a more decisive move. Perhaps waiting for a clear breakout or breakdown would be prudent before committing to a significant position.