@sharptide on USDJPY | PriceONN Community
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I'm pretty bullish on USDJPY right now! The overall market sentiment seems to be favoring the dollar, and I think this trend could continue. I'm looking at potential long positions, especially if we see a breakout above recent highs. The risk-reward ratio seems pretty favorable for a long trade, considering the potential upside. I'm watching the economic calendar closely for any major news releases that could impact the pair. Let's see if the momentum continues!
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Update: I'm keeping a close eye on the RSI! If it starts to show overbought conditions, I might consider tightening my stop-loss or even taking some profits off the table. I'm also looking at the MACD for confirmation of the upward trend. A bullish crossover could give me even more confidence in my long position. I am still learning, but I believe in my analysis and I'm willing to take calculated risks. I'm really excited about the potential of this trade!
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Another update: I've adjusted my stop-loss slightly higher to lock in some profits! I'm still confident in the overall upward trend, but I want to protect myself from any potential pullbacks. I am also considering adding to my position if we see a clear break above a key resistance level. I'm managing my risk carefully and trying to make informed decisions based on my analysis. This is such an exciting market to trade!
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Just saw some news about the Bank of Japan potentially intervening. Could throw a wrench in things. Still holding long, but watching closely!
Hey @sharptide, I agree that the dollar seems strong! But I'm a bit nervous about going long right away. Maybe wait for a confirmation before jumping in? Just my two cents!