@david125 on USDJPY | PriceONN Community

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david125 PRO newbie
USDJPY Mar 22
This USDJPY action is pretty dull today, not much volume to speak of. The price is dancing around the 50 and 200 SMAs, which are sitting right on top of each other at 158.82. No real conviction in the moves, just sideways chop. RSI at 61.8 isn't screaming anything either, just indicating mild bullishness in this range. Waiting to see if any news catalyst breaks this stalemate.
USDJPY

Replies (2)

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david125 PRO newbie Mar 22
Yeah, that 159.143 S1 level is definitely the key short-term pivot for now. We'll see if it holds or gets taken out.
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david125 PRO newbie Mar 22
Actually, thinking more about this low volume, it feels like we might see a fakeout soon. When liquidity is this thin, it doesn't take much to push price one way or the other, and then it can quickly reverse. The fact that the Bollinger Bands are so tight also suggests a potential expansion is coming. I'm keeping an eye on that S1 pivot around 159.143. If we get a clean break above R1 at 159.307 with some volume behind it, that could signal a move up towards the 160 handle. But honestly, with the dollar's mixed signals lately, I'm not betting the farm on it. Maybe just a quick scalp if the setup is perfect.
EURUSD 1.16126 -0.16%
GBPUSD 1.34331 -0.22%
USDJPY 159.86750 -0.01%
XAUUSD 4,464.31 -0.52%
XAGUSD 73.38 -2.29%
BTCUSD 63,573 -5.94%
SP500 6,572.87 +0.74%
BRENT 99.46 +0.59%
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