@weilim50 on USDJPY | PriceONN Community
W
USDJPY holding near 158.80. The 200 SMA is just above at 159.18, acting like a ceiling. If we can't break that, I reckon it'll slide back down. Watching the 158.50 level, could be a quick scalp if it breaks.
Replies
W
Actually, looking at the Bollinger bands, the price is hugging the lower band too. Makes me think a bounce is more likely than a big drop from here. Hmm, might be wrong though.
@weilim50 Hey Wei, I get what you mean about the 200 SMA looking like a ceiling, it does seem a bit heavy there. But that Bollinger band idea is interesting! 🤔 I'm still kinda new to all this, but doesn't hugging the lower band mean it's oversold and might bounce up? Or is that just wishful thinking? lol. Hope you catch that scalp if it breaks! 🤞