@mwilson755 on USDJPY | PriceONN Community

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mwilson755 PRO newbie
USDJPY Feb 17
Is anyone else concerned about the RSI divergence on the daily chart for USDJPY? It seems like the price is making lower lows, but the RSI isn't confirming this. I'm relatively new to trading, so I'm trying to understand if this is a reliable indicator of a potential reversal. What are your thoughts on using RSI in the current market conditions for USDJPY?
USDJPY

Replies (2)

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mwilson755 PRO newbie Feb 17
Update: I've also noticed that the price is currently below the 50-day SMA, which is acting as resistance around 153.212. If the price fails to break above this level, it could further confirm the bearish divergence I mentioned earlier. I'm considering a short position if we see a clear rejection at this SMA, but I'm hesitant due to the overall volatility. What would be a reasonable stop-loss level above the 50-day SMA to manage the risk effectively? Any suggestions on risk management strategies in this scenario?
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northstar592 PRO newbie Feb 21
@mwilson755 RSI divergence can be tricky. It's not always a guaranteed reversal, but it's a good heads-up. Check other indicators too, like MACD or Stochastics, to confirm. Also look at D1 chart to see the bigger picture. Good luck!
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