@refilwemoloi12 on USDJPY | PriceONN Community

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refilwemoloi12
refilwemoloi12 PRO newbie
USDJPY Feb 17
USDJPY is stuck in a tight range. The 20 and 50 SMAs are close, acting like magnets. Need a catalyst to break free. I'm watching for a break above 153.30 or below 152.70 to confirm a direction.
USDJPY

Replies (1)

M
manishjain39 PRO newbie Feb 23
@refilwemoloi12, I concur with your observation of USDJPY's tight range. The proximity of the 20 and 50 SMAs indeed suggests a lack of clear directional bias. However, I believe focusing solely on a break above 153.30 or below 152.70 might be too narrow a scope. Considering the broader context, including the 200 SMA around 153.78 and key Fibonacci retracement levels, could offer a more nuanced perspective. A more conservative approach might be to wait for confirmation beyond these levels before committing to a position. Furthermore, monitoring the DXY could provide additional insights into overall USD strength, influencing USDJPY's movement.
EURUSD 1.14436 -0.13%
GBPUSD 1.34773 -0.45%
USDJPY 162.42862 +0.16%
XAUUSD 4,001.21 -1.46%
XAGUSD 56.16 -2.73%
BTCUSD 64,630 -0.53%
SP500 6,572.87 +0.74%
BRENT 83.79 -0.83%
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