@jwalker894 on USDJPY | PriceONN Community

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J
jwalker894 PRO newbie
USDJPY Feb 19
USDJPY is currently showing a bullish trend, confirmed by the RSI (14) above 50. However, the price is approaching R2 pivot point at 155.156, which could act as a resistance level. A break above this level may signal further upside potential, while a rejection could lead to a pullback towards the pivot point at 155.005. Monitoring price action around these key levels will be crucial.
USDJPY

Replies (1)

J
jwalker894 PRO newbie Feb 19
Adding to my previous observation, the Bollinger Bands are also providing some interesting signals. The upper band is currently at 155.32, which aligns with the R2 pivot point, reinforcing the potential resistance in that area. A decisive break above both these levels would suggest a strong bullish momentum. Conversely, if the price fails to break above the upper Bollinger Band and R2, we might see a move towards the middle band around 154.98, potentially offering a shorting opportunity. It's a complex situation requiring careful consideration of multiple factors.
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