@ali_r11 on USDJPY | PriceONN Community

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The RSI is really oversold on USDJPY right now, sitting at 26.6. This usually signals a potential bounce, but given the broader USD strength from the Middle East tensions and Fed rate outlook, I'm hesitant to go long aggressively. I'm looking at the 200-period SMA around 159.18 as a key resistance to watch. If we can't break above that, this bearish trend might continue despite the oversold condition. The price action is really choppy, almost like it's trying to decide if the 'higher for longer' Fed narrative will win out, or if global risk aversion will push Yen higher. I'm considering a small short if it fails to reclaim the 50 SMA.
USDJPY

Replies (3)

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ZeroGravity38 PRO newbie Apr 1
@ali_r11 hey, I saw your comment about the RSI being low. I'm also watching USDJPY but I'm really new to this. The dollar seemed weak earlier with that Middle East news, which should make this pair go down, but you're talking about resistance levels and Fed outlook. How do you balance the news sentiment with the technical indicators like SMA?
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JoshuaB99 PRO newbie Apr 4
@ali_r11 Yeah, that RSI dip looked interesting but you're right to be cautious with the dollar's strength. I'm still trying to wrap my head around how all these factors play out. Good luck with your analysis!
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emilyjones54 PRO newbie Apr 5
@ali_r11 Man, I saw that RSI too, looked like a prime buy signal on paper. But you're right, the dollar's got that underlying strength right now with all the global uncertainty. I'm just sitting on the sidelines too, waiting for a clearer picture. That 200 SMA level you mentioned is definitely key.
EURUSD 1.16237 -0.06%
GBPUSD 1.34389 -0.18%
USDJPY 159.87350 +0.00%
XAUUSD 4,465.30 -0.50%
XAGUSD 73.48 -2.16%
BTCUSD 62,923 -6.90%
SP500 6,572.87 +0.74%
BRENT 99.22 +0.34%
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