@shahzaibkhan18 on USDJPY | PriceONN Community

Update: I am also keeping an eye on the Bollinger Bands. A close above the upper band at 153.68 could indicate a strong bullish trend. However, it is important to be cautious and manage risk appropriately. I will place my stop loss slightly below the 50 SMA.

@shahzaibkhan18 I agree that the 50-day SMA is a key level to watch. However, relying solely on SMAs can be risky. Consider incorporating other indicators like the MACD or Fibonacci retracements for confluence. Also, be mindful of potential fakeouts, especially around psychological levels like 153.00. A deeper pullback to S1 before a rally isn't out of the question. Always manage your risk!