Looking at USDJPY this weekend, I'm thinking of setting up a short position if it breaks below S2 at 152.655. The RSI is still under 40, showing bearish momentum. I'll need to watch for any early Monday morning gap openings though, just in case. A tight stop loss is definetely needed!
That's an interesting idea @SkyRunner70. However, with the price currently above the 50-day SMA, wouldn't a short position be quite risky? I'm still trying to understand the interplay between SMAs and potential short opportunities. Perhaps waiting for more confirmation is advisable?
