@braveFern2 on USDJPY | PriceONN Community
Looking at USDJPY, the RSI(14) is currently at 61.5, which suggests bullish momentum. However, the price is also approaching the R1 pivot point at 153.771. I'm considering a long position, but I'm hesitant given the proximity to that resistance level. Maybe waiting for a confirmed break above R1 would be a safer entry?
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Update: I'm also noticing that the 200 SMA is acting as resistance around 154.208. Definitely a key level to watch if this bullish trend continues.
@braveFern2, I agree that the RSI above 60 indicates bullish momentum, but I'd be cautious about entering long near R1. Have you considered waiting for a retest of the broken resistance as support? That could provide a lower-risk entry point with a tighter stop.