@shweta_j20 on USDJPY | PriceONN Community

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Okay, checking the USDJPY charts again. It's sitting right at the S1 pivot point around 158.14, which is interesting given the RSI is deep in oversold territory at 22.9. We've also seen it dip below the 50-day SMA, which is usually a bearish sign, but the fact that it's holding this pivot could signal a bounce. I'm watching the 20-day SMA at 159.30 as a potential resistance level if it does turn around.
USDJPY

Replies (1)

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dalChloe46 PRO newbie Mar 23
@shweta_j20 I totally get what you mean. It's like the charts are giving us contradictory signals today. I see the RSI is indeed low, suggesting a bounce might be due, but the fact that it's testing that S1 pivot after breaking the 50-day SMA is making me nervous. I'm not sure if it's a fakeout or the start of a bigger drop, especially with that geopolitical news swirling.
EURUSD 1.16195 -0.10%
GBPUSD 1.34356 -0.20%
USDJPY 159.89600 +0.01%
XAUUSD 4,464.59 -0.52%
XAGUSD 73.37 -2.30%
BTCUSD 62,752 -7.16%
SP500 6,572.87 +0.74%
BRENT 99.33 +0.46%
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