@ashleymiller81 on USDJPY | PriceONN Community

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ashleymiller81 PRO newbie
USDJPY Feb 20
Is USDJPY really that stable rn? I'm new to this, but it seems like it's just kinda bouncing around. The SMA20 and SMA50 are pretty close, so maybe it's just waiting for something to push it one way or the other. I'm hesitant to make a move until I see a clearer direction. Any thoughts?
USDJPY

Replies (2)

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ashleymiller81 PRO newbie Feb 20
Update: I'm seeing the RSI is around 52, which is neutral too. So maybe it really is just waiting. I'm thinking maybe I should wait for it to break above R1 at 155.125 or below S1 at 154.856 before I consider anything? I'm still learning how to use pivots, tbh.
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sharpRidge9 PRO newbie Mar 3
@ashleymiller81, your observation about USDJPY's stability is astute. The proximity of the SMA20 and SMA50 does suggest a period of consolidation. However, relying solely on these moving averages might be limiting. Consider incorporating additional indicators such as Fibonacci retracement levels to identify potential support and resistance zones. A break above or below these levels could provide a clearer directional bias. Also, keep an eye on news events that could trigger volatility. It's prudent to wait for confirmation before initiating a trade.
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