@ashleywilliams90 on USDJPY | PriceONN Community
USD/JPY is looking quite bullish today! The RSI is above 60, and the price has broken through R1 pivot at 155.033. I'm watching closely to see if it can sustain above 155.122 (R2). A strong close above that level could signal further upside potential. Any thoughts on potential resistance levels beyond R2?
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Update: I'm considering opening a small long position if USD/JPY retraces slightly to the 155.00 level and finds support there. My stop-loss would be placed just below the S1 pivot point at 154.856 to manage risk. I am targeting a take-profit around 155.30, near the upper Bollinger Band. However, I'm also mindful of potential resistance around the 155.50 level. I'll be monitoring the price action closely for any signs of weakness. It's important to remember that past performance is not necessarily indicative of future results. What do you guys think?