@jwilson554 on USDJPY | PriceONN Community
J
Been watching USDJPY closely today. Given the volatility around 159.50, I decided to open a small long position at 159.40. My initial risk is about 0.75% of my capital, which feels manageable. I'm looking for a move towards the R1 pivot at 159.60, but I'll be ready to cut losses if it dips back below the 50 SMA.
Replies
Hey @jwilson554, nice play trying to catch that bounce off 159.40. I'm with you on this one – USDJPY has been sticky around these levels all week. Personally, I'm not chasing this small move though. I'm looking for a real breakout, maybe a liquidity grab above 160.00. If we get that dollar strength narrative playing out like some headlines suggest, we could see a massive spike. I'm thinking of going full margin long if it breaks 159.80 decisively next week. Forget small positions, let's get paid! But yeah, watch that 159.50 resistance closely, could be a fakeout.