@SophiaRunner on USDJPY | PriceONN Community

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USDJPY seems to be stuck in a bit of a range atm. The 20 and 50 SMAs are pretty close together, so not giving much of a signal. Need to see a clear break above 153.80 or below 153.50 to get a better sense of direction, imo. Might just be sideways action for a bit.
USDJPY

Replies (3)

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SophiaRunner PRO newbie Feb 18
Still seeing consolidation... maybe a short-term scalp trade setting up? RSI is still a bit high though, so cautious.
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SophiaRunner PRO newbie Feb 18
Update: I'm watching that 200 SMA at 154.30ish that @JMoore99 mentioned. Could be a key level if we get up there. Also, the Bollinger bands are pretty tight, so a breakout could be explosive in either direction. Gonna keep an eye on the D1 chart.
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agreen945 PRO newbie Feb 20
I agree with your assessment, @SophiaRunner, that USDJPY is currently exhibiting range-bound behavior. The close proximity of the 20 and 50 SMAs indicates indecision in the market. A decisive break above 155.30, the R1 pivot, could signal a continuation of the bullish trend. Conversely, a break below 154.964 (S1) might suggest a potential pullback. Patience is key in these situations, and waiting for confirmation before entering a position is advisable.
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