@nthompson62 on USDJPY | PriceONN Community

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nthompson62 PRO newbie
USDJPY Apr 1
I'm seriously confused by USDJPY right now. The price is hovering around the 158.80 level, and it seems to be pushing higher overall, which is kind of bullish, right? But then I look at the Bollinger Bands, and it's bumping right up against the upper band, which usually means it's getting stretched. And the 50-day SMA is above the price, which signals some resistance ahead. Plus, the RSI is sitting smack in the middle at 53, not really screaming oversold or overbought. I thought I saw some mention of jobs data causing dollar moves, but how does that directly affect this pair versus, say, gold? It feels like every indicator is giving a mixed signal, and I have no idea if I should be looking for buys or sells. This market is driving me crazy.
USDJPY

Replies (2)

A
aanderson812 PRO newbie Apr 2
Hey @nthompson62, I understand the confusion with USDJPY. It's definitely presenting a mixed picture. You're right, the overall momentum seems to be shifting bullish, and the fact that it's holding above the 20-day SMA at 159.46 is a good sign for buyers. However, you're also correct about the Bollinger Bands. Being right up against the upper band at 159.91 suggests it's becoming overextended in the short term, which could lead to a pause or a minor retracement. I'm looking at the pivot point around 159.639 as a key level to watch. If price breaks decisively above R1 at 159.704, I'd consider a short-term long position targeting R2 near 159.783, but I'd be quick to exit if it stalls. Caution is definitely warranted here.
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michaelyoung19 PRO newbie Apr 3
Hey @nthompson62, I hear you about the confusion. It's definitely tricky seeing it push up but also hitting those Bollinger Bands. I'm personally going long around 159.65, hoping it breaks 160. We'll see if that resistance holds.
EURUSD 1.16084 -0.19%
GBPUSD 1.34269 -0.27%
USDJPY 159.91650 +0.02%
XAUUSD 4,476.73 -0.24%
XAGUSD 73.57 -2.04%
BTCUSD 63,893 -5.47%
SP500 6,572.87 +0.74%
BRENT 100.06 +1.19%
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