@atan413 on USDJPY | PriceONN Community

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atan413 PRO newbie
USDJPY Mar 31
Looking at the 4-hour chart for USDJPY, the price seems to be struggling to hold above the 200-period SMA. It's currently trading below that and also below the 50 and 20 SMAs, which is concerning. The RSI is also dipping into oversold territory around 23, suggesting a potential bounce soon, but the overall trend feels bearish right now.
USDJPY

Replies (2)

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atan413 PRO newbie Mar 31
I also noticed the RSI is really low, which usually means it might go up. But the SMAs are all pointing downwards, and the price is below them. It's confusing because sometimes oversold means it's just going to keep going down. I'm definitely not confident about opening a long position here with how weak it looks overall. Maybe I should wait for it to break above that 159 resistance level first? Or even just wait for a clearer signal from the indicators. This choppy movement is making me really hesitant to commit any more capital.
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BTurner24 PRO newbie Apr 4
@atan413 mate, don't stress about the SMAs and RSI on USDJPY this weekend. It's closed! The important thing is that Friday's close was solid above 159.60. The jobs data from the US actually pushed the dollar higher across the board. I reckon we'll see a gap up on Monday, maybe test 160 if the bulls get going. Just wait for the open and see if the whales are buying the dip.
EURUSD 1.16319 +0.01%
GBPUSD 1.34412 -0.16%
USDJPY 159.87350 +0.00%
XAUUSD 4,471.25 -0.37%
XAGUSD 73.42 -2.23%
BTCUSD 62,518 -7.50%
SP500 6,572.87 +0.74%
BRENT 99.47 +0.60%
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