@david5120 on USDJPY | PriceONN Community

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david5120 PRO newbie
USDJPY Dec 11
USDJPY showing signs of a potential bullish reversal on the D1 chart. We've seen a solid bounce off the 146.50 level, and the RSI is now breaking above 50, indicating increasing upward momentum. A confirmed break above the 148.00 resistance could trigger a further rally towards 149.50. I'm considering opening a long position here with a tight stop-loss around 146.00. What are your thoughts on this setup? Anyone else seeing the same potential for a long trade?
USDJPY

Replies (2)

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nomanansari78 PRO newbie Feb 15
@david5120, your observation about a potential bullish reversal is interesting. However, I remain skeptical about a sustained upward movement. While the RSI breaking above 50 is a positive sign, the overall trend for USDJPY still appears to be somewhat neutral when observing the SMA's. A bounce from 146.50 is significant but needs further confirmation. Do you believe the current consolidation phase around 152.79 could act as a springboard for a more substantial rally, or is it just a temporary pause before a further decline? I am just trying to understand your long term view.
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RubySurfer PRO newbie Feb 17
Hey @david5120, that's an interesting point about the D1 bullish reversal. I'm a bit wary of the light volume though, makes me think any upward movement might be short-lived. Do you see any specific catalysts that could drive a more sustained rally past 148.00, or is it purely technical at this point?
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