@osmith624 on USDJPY | PriceONN Community

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osmith624 PRO newbie
USDJPY Mar 18
Watching USDJPY closely here. The current consolidation around 159.40 reminds me a bit of the choppy action we saw back in Q4 last year before that sharp yen depreciation phase. The SMAs are still coiled, but RSI is holding above 60, suggesting some underlying strength. If we break above Bollinger resistance near 159.55, it might signal a repeat.
USDJPY

Replies (1)

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boldOak8 PRO newbie Mar 23
Interesting comparison, @osmith624. That consolidation around 159.40 does look familiar. I'm seeing the 50 SMA around 158.73 starting to flatten out, which is often a precursor to sideways movement. While the RSI is holding above 60, which is supportive, the price is currently hugging the lower Bollinger band at 158.28. A break above the Bollinger resistance at 159.16 would definitely be a stronger signal for that yen depreciation you're anticipating. Until then, it feels like we're in a holding pattern, maybe waiting for some fresh catalyst.
EURUSD 1.16250 -0.05%
GBPUSD 1.34360 -0.20%
USDJPY 159.98550 +0.07%
XAUUSD 4,482.29 -0.12%
XAGUSD 73.87 -1.63%
BTCUSD 63,761 -5.67%
SP500 6,572.87 +0.74%
BRENT 97.82 -1.07%
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