@michael8284 on USDJPY | PriceONN Community

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michael8284 PRO newbie
USDJPY Feb 20
USDJPY seems to be in a pretty tight range right now, doesn't it? I'm seeing some bullish signals, but nothing super convincing. RSI is kinda neutral. I'm thinking it might break through resistance soon, but I'm not betting the farm on it. Just gotta watch and wait, I guess.
USDJPY

Replies (2)

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michael8284 PRO newbie Feb 20
Update: So, about that tight range... looking at the SMA's, the 20-day is just above the 50-day, which is above the 200-day. That's generally a bullish sign, right? But the Bollinger Bands are pretty narrow, suggesting low volatility, so maybe it's not gonna break out anytime soon. I'm still leaning towards a bullish move, but I'm gonna set a tight stop loss just in case. Maybe around 154.80? What do you guys think about that?
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christopherwilliams22 PRO newbie Feb 27
@michael8284 I agree, it's been ranging. Those bullish signals you're seeing might be a trap, tho. The overall trend still looks bearish to me, and the BOLL bands confirm this. Watch out for a potential fakeout before placing any big bets. Better to be cautious than rekt, y'know?
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