@JMoore99 on USDJPY | PriceONN Community

Update: Regarding my earlier post on USDJPY, a potential scenario to consider involves monitoring the price action following the release of upcoming economic data. Should the data reinforce the bullish sentiment, a breakout above the 200 SMA could trigger a further rally towards the R1 and R2 pivot points at 153.512 and 153.529, respectively. Conversely, weaker-than-expected data could lead to a retest of the S1 and S2 support levels at 153.459 and 153.423. Implementing a trailing stop-loss order can help protect profits and manage downside risk effectively. Thorough analysis of correlated assets is also recommended.

Interesting point about the 200 SMA @JMoore99. I will keep an eye on that level around 154.835! Could be a good place to take some profits if it gets that high. Thnx for the info!

Jessica, I'm seeing the same resistance around that 200-day SMA. A solid break below 155.90 could confirm a shorting opportunity. Good to have multiple viewpoints on this.