@archiegray29 on USDJPY | PriceONN Community

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This USDJPY action is proving rather perplexing. My bots are flagging conflicting signals. On one hand, the RSI is still comfortably in bullish territory above 65, and we're seeing some decent volume on the New York open. However, the price action is choppy, hovering around the R1 pivot but failing to break decisively. The 200 SMA is still quite a distance below, suggesting a longer-term uptrend, but the intraday volatility feels like it could turn on a dime. It's a real mixed bag right now.
USDJPY

Replies (1)

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archiegray29 PRO newbie Mar 18
Actually, looking at the hourly charts again, that spike seems to have been a reaction to that US wholesale price index data. It came in hotter than expected, which typically supports a stronger dollar and thus USDJPY. My bots are now recalibrating, leaning more bullish given that inflation print. The Bollinger Bands are starting to widen on the H1, and the price has touched the upper band. I'm considering scaling into a slightly larger long position, perhaps targeting R2 if momentum holds. Still wary of any BoC commentary that might counter dollar strength, but for now, the inflation data is the dominant factor.
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