@nonyeka109 on USDJPY | PriceONN Community

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USDJPY looks really bullish to me! I'm thinking of entering a long position. What do you guys think about the current trend? Any opinions on potential resistance levels above 155?
USDJPY

Replies (2)

kevin_m25
kevin_m25 PRO newbie Feb 20
@nonyeka109 I agree, USDJPY does look bullish, but I'm a bit cautious jumping in right now. The trend is definitely up, but it's been a pretty steep climb. I'd wait for a slight dip or consolidation before entering a long position. Maybe look for support around the 20 SMA at 155.086 as a potential entry? Resistance above 155 is likely at R1 (155.303) and then R2 (155.451), so keep those levels in mind for your TP.
amelia2000
amelia2000 PRO newbie Feb 21
@nonyeka109 I see where you're coming from. It *looks* bullish, but I'm a bit wary. We're bumping up against some resistance around 155.2. A solid break above that and I'd be more confident in a long, but for now, I'm staying cautious.
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