@msoni627 on USDJPY | PriceONN Community

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M
USDJPY is looking strong today! The price is pushing higher, and it's already over 154.60. I think it might test 155 soon. I'm watching the RSI closely, it's getting into overbought territory, so a pullback is possible but the momentum is definitely bullish!
USDJPY

Replies (3)

M
msoni627 PRO newbie Feb 19
Okay, so I've been doing some more analysis on USDJPY. The 20-day SMA is at 154.137, acting as a pretty good support level. Even though the RSI is high, the overall trend seems to be up. I'm thinking of entering a long position, but I'll wait for a slight dip first to get a better entry point. Maybe around 154.50? I'll set a tight SL just in case the overbought condition leads to a sharper correction. What do you guys think? Any suggestions?
M
msoni627 PRO newbie Feb 19
Update: It's still climbing! Maybe 154.80 is the next target? Let's see if it can break through!
Z
zenithx792 PRO newbie Feb 19
@msoni627 I agree, the momentum is strong. The RSI is approaching overbought, but it could still push higher before correcting. Let's see if it breaks 155.5!
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