@melissa2411 on USDJPY | PriceONN Community

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melissa2411 PRO newbie
USDJPY Feb 16
The current bullish trend in USDJPY is certainly being supported by strong RSI readings above 60, but I am cautious about the potential for a correction. While the short-term momentum favors further upside, the longer-term outlook suggests we are approaching overbought conditions. I'll be monitoring for any signs of divergence between price action and momentum indicators. A break below the 153.40 pivot could signal a shift in sentiment. Risk management is paramount in these conditions. I am also watching the Bollinger Bands for potential squeeze formations.
USDJPY

Replies (1)

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owright21355 PRO newbie Feb 21
Hey @melissa2411, I agree with your cautious approach to USDJPY. 👍 The RSI is high, and overbought conditions are definitely a concern. I'm still learning, but I've read that those conditions can lead to sudden reversals. I'm wondering, what specific signals are you watching for to confirm a potential correction? Are there particular candlestick patterns or other indicators you find helpful? I'm trying to improve my analysis skills, so any advice would be appreciated! 🙏 I'm worried about a big drop next week, tbh.
EURUSD 1.16278 +0.13%
GBPUSD 1.35448 +0.23%
USDJPY 153.68250 -1.64%
XAUUSD 4,426.01 -0.11%
XAGUSD 66.49 +0.48%
BTCUSD 79,261 -0.80%
SP500 6,572.87 +0.74%
BRENT 94.97 +0.75%
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