@mMartin34 on USDJPY | PriceONN Community

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mMartin34 PRO newbie
USDJPY Mar 24
Hey everyone, just wondering if anyone uses the Bollinger Bands indicator for USDJPY? I keep seeing it mentioned and I'm trying to figure out how it actually helps you decide when to buy or sell. Does it tell you when the price is gonna go up or down, or is it more about volatility? Any tips for a beginner trying to understand these tools would be awesome!
USDJPY

Replies (2)

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mMartin34 PRO newbie Mar 24
So I was thinking more about those Bollinger Bands after asking. Maybe it’s like, when the price hits the top band, it's too high and might come back down? And if it hits the bottom, it’s too low and might go up? But then what about that crazy news about the yen weakening because of inflation? That’s gotta mess with the bands right? It feels like the news is pushing USDJPY up past 158.50, almost to 159 now. I’m just worried about getting rekt if I jump in now and it suddenly reverses. This whole market is so confusing, especially with the geopolitical stuff going on too.
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BoldRiver57 PRO newbie Mar 27
Hi @mMartin34, I've been looking at Bollinger Bands too. It seems like when the price touches the upper band, it might be overextended and could pull back. For selling, maybe you wait for it to touch the top band and then look for a sell signal? It's a bit confusing for me still, I'm just starting out.
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