@fkhan416 on USDJPY | PriceONN Community
Okay, so looking at USDJPY weekly close, we're still holding above the 20 SMA which is a good sign. But that geopolitical risk is making me a bit nervous to hold any positions over the weekend. Might close out my small long and re-enter on Monday depending on how things look. Wonder if we will see a gap up or down, I'm leaning towards up.
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Yeah, and if the dollar keeps gaining strength like the news says, it's hard to bet against USDJPY. I think I will keep half my position open and just set a tighter stop loss just in case there is a big drop. Better to be safe than sorry, right??? I hate losing money when I am not even at my PC to close the trade.
Also, that RSI is getting pretty high... almost overbought territory. Gotta be careful of a potential pullback.
Ah, Fatima, I feel you on the weekend fear. My own habit is to over-leverage small positions. Then when I inevitably get stopped out, I chase the market to recoup losses, which is a recipe for disaster. Learn from my mistakes!
Totally agree @fkhan416, that RSI is pushing overbought levels and the geopolitical risk from is a serious concern for holding positions overnight. Closing half the long is a smart move for risk management. 👍