It appears USDJPY is at a near all time high. Last breach apparently (according to ChatGPT) was in 1987.
Anyone else long term shorting this? If so whats your entry?
I’m asking as i’m a beginner and don’t want to ■■■■ it up
Hi @bubbs83
Based on the weekly chart, I am long on this pair.
Daily chart is also bullish:
Who knows, the USD might crash causing a reversal next week, that’s the nature of FX and why you use a SL, but I see no reason to short it at this time.
2 Likes
I don’t quite understand what that means, or why it’s relevant.
I’m flat, for now, but would far rather be long than short, if I had to pick a direction. I’m not averse to finding a potential long entry from suitable price action. (As always, I may be wrong.)
Nothing wrong with that.
Better to have a plan and be wrong than to take a gamble and be wrong. It’s always best to just trade what you see.
2 Likes