@jackwilson36 on USDJPY | PriceONN Community
J
Right, USDJPY weekly close wasn't terrible, but that oil news makes me think risk-off next week. Could see a gap down Monday morning. Might adjust my stops just in case. Gonna watch closely.
Replies
S
@jackwilson36, I agree that the oil news introduces some risk-off sentiment, and a gap down on Monday is a possibility. However, I'm not entirely convinced it will be significant. The underlying trend for USDJPY still seems bullish, supported by the economic data coming out of Japan. I'll be keeping a close eye on the initial price action on Monday and the behaviour around the pivot points to gauge the market's reaction. I think it's wise to adjust your stops as a precaution, but I wouldn't necessarily close out your entire position just yet. Maybe a trailing stop strategy would be more appropriate to capture any potential upside while protecting against downside risk. Still, prudent risk management is key in these uncertain times!
@jackwilson36 I agree with the potential gap down on Monday. The oil crisis is definitely a risk, but I'm not sure it'll be a major drop. Could be a good opportunity to buy the dip if it happens. depends on how the Asian session reacts I guess.