@ktaiwo295 on USDJPY | PriceONN Community
K
From my analysis, USDJPY's current trajectory suggests a continuation of the bullish trend. The 20 and 50 SMAs are positioned favorably, supporting the upward momentum. However, the proximity to the R1 pivot at 155.275 warrants caution, as it could act as a potential hurdle. I am also monitoring the Bollinger Bands, where the upper band near 155.48 might present a resistance zone. Should the price successfully breach these resistance levels, I anticipate a test of the R2 pivot at 155.486. Conversely, a failure to overcome these resistances could lead to a period of consolidation or a minor retracement towards the 20 SMA. Prudent risk management is advised.