USDJPY - why you need a stop loss

The 5m chart right now

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In the greater order of things for this pair, that drop off the cliff on the scale you chose is not nearly as dramatic of that a few days ago.

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Yea that wasn’t fun either.

This one from this morning got me too. Blew my stop by 80 pips and since came up almost 30 pips. Not cool!

Wow, that was a big spike. Very unpleasant indeed!! :grimacing: :stuck_out_tongue: :cry:

Looks like 85 pips on a 5m candle.

anybody knows what caused this 80 pips dip today? i looked for any major news and there was none. :face_with_monocle:

I always blame BOJ/MOF but traders smarter than me say no.

https://x.com/kathylienfx/status/1805234762421821626

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Large funds taking profit after the climb, choosing safety in fear of BOJ intervention around the 160 level

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Only bulls that have been losing has been because of Sell Stops. Great buying opportunities when stops get ran.

So does anybody have any shorts set? Hit 160.87 yesterday.

Wow, some of that crazy bank intervention back again. Did anyone get in on the move down?