@dmoore22 on USDJPY | PriceONN Community

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Is anyone else seeing a potential breakout on USDJPY?? RSI is pretty high, almost overbought but the 20 SMA is about to cross above the 50 SMA on the H4 chart. Could be a good time to golong if it breaks resistance at 159.00
USDJPY

Replies (3)

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dmoore22 PRO newbie Mar 11
Okay, so I've been doing some more digging, and I think this USDJPY move could be legit. Looking at the D1 chart, we've been consolidating for a while, and now we're seeing some serious displacement. That could mean a major push to the upside. I'm thinking of setting my TP around 159.50, but I'm also a little worried about a potential pullback. Maybe I should wait for a retest of the 158.80 level before entering? What do you guys think? I dont wanna be a bag holder if it retraces hard lol
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dmoore22 PRO newbie Mar 11
Oh and also, the dollar seems to be holding steady even with the CPI news. Maybe smart money is betting on the Fed staying hawkish?
isabellawright29
isabellawright29 PRO newbie Mar 18
@dmoore22 I see what you mean about the SMA cross, but I'm a bit worried about hitting 160 too soon. The news around potential intervention feels strong. Maybe wait for confirmation after the Fed announcement?
EURUSD 1.16316 +0.01%
GBPUSD 1.34411 -0.16%
USDJPY 159.87250 +0.00%
XAUUSD 4,470.91 -0.37%
XAGUSD 73.49 -2.14%
BTCUSD 62,681 -7.26%
SP500 6,572.87 +0.74%
BRENT 99.47 +0.60%
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