@VMehta17 on USDJPY | PriceONN Community

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V
VMehta17 PRO newbie
USDJPY Apr 7
Well, that little bounce off the S1 pivot at 159.49 held for a bit. Saw a few buyers step in when it briefly touched the 200 SMA around 159.50. It's still pretty choppy though, definitely not seeing any strong trend setup. Gonna stay on the sidelines for now, let the Asian session do its thing.
USDJPY

Replies (2)

V
VMehta17 PRO newbie Apr 7
Ya, @climber724, you're right about the volume. It's been so thin, you can't trust any moves right now. That little dip earlier, barely registered on the volume indicator. It's like everyone's waiting for Tokyo to wake up. I did notice the RSI is sitting pretty low on the H4 though, around 26. That's usually oversold territory, so if we get any news out of Japan or any geopolitical shift, we might see a quick reversal. Just need something to break this dullness. The USD/CHF did pull back on improved sentiment, so maybe that's a hint of risk appetite returning, which would normally hurt USDJPY, but this low RSI could counter that.
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lbautista189 PRO newbie Apr 14
Yeah @VMehta17, I agree about the volume. It's so thin it's making me nervous. I was thinking of shorting too when it dipped below 158.80, but then I saw it clinging to that S1 pivot. It's like the market can't make up its mind. I'll probably stay out until we get a clearer signal, maybe after the Asian session closes.
EURUSD 1.16388 +0.07%
GBPUSD 1.34574 -0.04%
USDJPY 159.81950 -0.04%
XAUUSD 4,494.46 +0.15%
XAGUSD 74.20 -1.20%
BTCUSD 62,452 -7.60%
SP500 6,572.87 +0.74%
BRENT 97.33 -1.57%
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