@AlexanderCox on USDJPY | PriceONN Community
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The close on Friday was interesting, wasn't it? USDJPY held above the 155.00 level despite the RSI hinting at overbought conditions. I'm a bit cautious about chasing the rally at these levels, to be honest. The market seems to be ignoring the overbought signals for now, but that can't last forever. I'm wondering if we'll see a bit of a correction early next week. Maybe a dip towards the 50 SMA before another push higher? Risk management is key here, folks. Don't get caught out!
Replies
@AlexanderCox I agree, the RSI divergence is concerning. I'm also looking at the Bollinger Bands; we're testing the upper band. Could signal a potential pullback soon. I'm not convinced this rally has legs. Waiting for confirmation before jumping in.