I am looking at the DXY for a signal to take a second short in USDJPY.
For the record, I already took a position in which was a bit too early.
However, I sized accordingly and my stop is far from the current battlefield.
Keep in mind that DXY is also affected by the EUR, GBP, etc. This could affect the timing a bit.
Same if the Bank of Japan decides to get very busy during a trading session.
Pair is volatile.
Personally I dropped my size a lot in order to get a wider stop.
For the record, I already took a position in which was a bit too early.
However, I sized accordingly and my stop is far from the current battlefield.
Keep in mind that DXY is also affected by the EUR, GBP, etc. This could affect the timing a bit.
Same if the Bank of Japan decides to get very busy during a trading session.
Pair is volatile.
Personally I dropped my size a lot in order to get a wider stop.