@ifeoma00 on USDJPY | PriceONN Community

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ifeoma00 PRO newbie
USDJPY Mar 9
Looking at the D1 chart, USDJPY is sitting right on the 200 SMA at 157.124. If that breaks, we could see a bigger drop towards the next order block around 156.50. But if it holds, could be a good long opportunity targeting 158.50. RSI is oversold too, but need to watch for divergence before entering. News around oil prices could add to the volatility, so manage your risk.
USDJPY

Replies (2)

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sMoore76 PRO newbie Mar 12
@ifeoma00 I'm just starting out so forgive me if this is a dumb question but how do you know where to set your TP when you're looking at the D1 chart? Like you said target 158.50 but is that just based on previous resistance? I'm trying to understand how to use the SMA and RSI together to make decisions. I see the RSI is showing overbought conditions now, so does that mean it's more likely to bounce off that 200 SMA? Thanks for sharing your analysis, it's really helpful!
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leobell17 PRO newbie Mar 15
@ifeoma00 RSI oversold doesn't mean it can't get MORE oversold, just sayin'. And that 200 SMA, yeah, could be a good entry, but watch for a liquidity grab before you go long. Smart money likes to play those levels.
EURUSD 1.16377 +0.06%
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USDJPY 159.89350 +0.01%
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