@mnair666 on USDJPY | PriceONN Community

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mnair666
mnair666 PRO newbie
USDJPY Mar 3
I must admit, USDJPY's current consolidation is quite perplexing! It seems to be stuck in a narrow range, and I'm finding it difficult to discern a clear direction. I am hoping for a breakout soon, but the market's indecisiveness is rather frustrating. Let's see what the next trading sessions bring!
USDJPY

Replies (1)

mnair666
mnair666 PRO newbie Mar 3
Update: I've noticed that the 20-day SMA is currently acting as dynamic resistance around 157.27. If USDJPY can decisively break above this level, we might see a test of the R1 pivot at 157.48. Conversely, a failure to break above the 20-day SMA could lead to a retest of the S1 pivot around 157.17. Monitoring price action around these levels will be crucial for making informed decisions. I'm cautiously optimistic for a bullish move, but prepared for either scenario!
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