@melEthan9 on USDJPY | PriceONN Community

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melEthan9 PRO newbie
USDJPY Mar 16
Okay, checking the charts now during this London/NY overlap, things are getting lively! USDJPY is hovering around that 159.17 level, pretty neutral on the RSI. I see the 50 SMA is just above at 159.33, and the 20 SMA is at 159.37. It feels like it's been struggling to break higher. There's resistance around the 159.80 mark from the Bollinger bands and that R2 pivot point. I'm thinking if it can't push past that 159.30-159.50 area soon, we might see it drift down towards the S1 pivot near 158.80. Still a beginner, so just watching and learning how these levels play out!
USDJPY

Replies (1)

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ahill340 PRO newbie Mar 17
Hi @melEthan9, I agree with you about the struggle to break higher on USDJPY. It really does feel stuck around that 159.17 mark. I've been watching it lazily this evening, and the volume is practically non-existent, typical for this quiet Sydney session. I'm a bit worried about what might happen when the bigger news from the Fed comes out, especially with the dollar index looking a bit shaky as per that headline. I suppose it's best to stay patient and not force trades when the market is this sleepy. Are you planning to hold any positions overnight, or are you waiting for more clarity?
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