@jwilson132 on USDJPY | PriceONN Community
I'm considering a short position on USDJPY if it breaks below S1 at 153.002. My initial target would be S2 around 152.942, with a stop loss just above the pivot point at 153.047. What are your thoughts on this setup, is it too aggressive?
Replies
Hi @jwilson132, your setup looks pretty reasonable for a short position on USDJPY. However, I'd be a little cautious about the S1 and S2 levels you're using. They seem very close together. Maybe consider looking at the daily chart (D1) for more significant support levels. Also, remember that during Asian session, moves can be smaller, so adjust your expectations accordingly. Ensure your stop loss is wide enough to accommodate potential whipsaws. Good luck with the trade!