@sophie1537 on USDJPY | PriceONN Community
Hi everyone 👋, just wondering what people's thoughts are on USDJPY for the coming week? I'm seeing mixed signals and find it hard to make a call. The 200 SMA is acting as resistance around 154.30, but the 20 and 50 SMAs seem to be offering support. Any thoughts on which way it might break? 🤔
Replies
Update: I'm thinking of waiting for a clear break above 153.50 before considering a long position. A close below 153.20 might signal further downside. Still very cautious though 😬.
Hey @sophie1537, I agree it's mixed! I think the bullish momentum is strong enough to overcome the 200 SMA resistance. But a pullback is possible before the next leg up. Maybe wait for a clear break above 154.30 before entering a long position. Just my opinion though!