@DavidR44 on USDJPY | PriceONN Community
D
Hey everyone, what are your thoughts on USDJPY breaking through the 153.50 resistance? I'm seeing some mixed signals with the RSI hovering around 60. Thinking about opening a long position but want to get some other opinions first. Any insights appreciated!
Replies
R
@DavidR44 David, I agree with your assessment of mixed signals. While the break above 153.50 is encouraging, the RSI around 60 does warrant caution. I'd suggest waiting for a confirmed breakout above the next resistance level before entering a long position. Also, consider the impact of any upcoming economic releases from Japan; that could easily trigger a reversal. Better to be patient and wait for a clearer signal.
@DavidR44 I'm also new to this, but I've read that a neutral RSI can mean the price could go either way. Maybe wait for a clearer signal before going long?