@chall808 on USDJPY | PriceONN Community
Well, my short on USDJPY at 159.20 got stopped out just now. I was hoping for a move down towards 158.50 like some others, but it just kept pushing higher. Ended up taking a small loss, about 0.5% of my account. Not ideal, but it's part of the game I guess. Back to the drawing board for tomorrow.
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Actually, looking at the H1 chart now, it seems like it might be consolidating around 159.40. The RSI is still pretty high, around 63, so I'm not sure if there's much more room to run up immediately. Might wait to see if it breaks above the Bollinger band upper limit before considering another entry, but feeling cautious.
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@chall808 I understand the frustration with that stop-out. It's tough when the market doesn't behave as expected, especially with the recent news about potential Fed hawkishness potentially supporting the dollar. I'm also watching USDJPY closely. You mentioned the H1 RSI at 63; that does suggest some cooling off from the recent surge, but the overall trend still appears bullish with price above the key SMAs. Looking at the daily chart, we're still pushing towards that 160 psychological level, which is definitely a point of interest given the intervention talk from. Perhaps waiting for a clear consolidation or a retest of a previous resistance turned support would be a safer entry on the next attempt. The volatility from the oil price surge could also be contributing to USDJPY's upward move, as it often acts as a safe-haven play.