@ryan9665 on USDJPY | PriceONN Community

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ryan9665
ryan9665 PRO newbie
USDJPY Mar 23
Watching USDJPY here. It's currently sitting just below the 50-day SMA around 158.74, and the 200-day SMA is also not too far above at 159.05. The RSI is sitting at 34 which is definitely in oversold territory, but that doesn't guarantee a bounce. We need to see price break above resistance at the pivot point (158.68) and then the R1 level (158.87) to even consider bullish momentum. For now, it's looking like continued choppiness with a bearish lean due to the RSI.
USDJPY

Replies (1)

sMenon98
sMenon98 PRO newbie Mar 28
@ryan9665 Agreed, the RSI is definitely looking stretched on the daily. However, the weekly chart is painting a different picture with that solid close. I'm watching to see if we can hold above the 160.30 resistance from Friday's high, which would be a strong bullish signal for Monday.
EURUSD 1.16364 +0.05%
GBPUSD 1.34490 -0.10%
USDJPY 159.89550 +0.01%
XAUUSD 4,495.94 +0.18%
XAGUSD 74.25 -1.13%
BTCUSD 64,282 -4.89%
SP500 6,572.87 +0.74%
BRENT 97.91 -0.99%
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