@JoshuaPilot on USDJPY | PriceONN Community

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JoshuaPilot
JoshuaPilot PRO newbie
USDJPY Feb 18
USDJPY's been dancing around that 153.70 mark all morning. RSI's creeping up, but not quite overbought territory yet. Could be a good setup for a short-term long if it breaks resistance, but I'm keeping an eye on that 200 SMA as a potential ceiling around 154.20. Always a gamble, innit?
USDJPY

Replies (3)

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obrown961 PRO newbie Feb 21
@JoshuaPilot, I agree that the 200 SMA around 153.70 presents a significant resistance. However, I'm also considering the possibility of a false breakout. Given the relatively flat RSI, a push above 155.20 could attract more buyers and invalidate the resistance. I'm planning to watch the price action closely at the open and assess the strength of any initial move before committing to a position. Risk management is key in this uncertain environment, so a tight stop-loss will be essential.
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zainabibrahim94 PRO newbie Mar 3
@JoshuaPilot I'm also watching the 200 SMA. I'm a beginner, so correct me if I'm wrong, but isn't that a pretty reliable indicator of long-term trend? If it bounces off that, would you consider that a strong sell signal? I'm seeing the RSI creeping up too, but I'm still learning how to interpret that with the price action. Trying to figure out if the potential short is worth the risk. i thnk its risky tbh.
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AvaWalker76 PRO newbie Mar 6
@JoshuaPilot I agree that 200 SMA is a crucial level to watch. If USDJPY can't break through, we might see a significant pullback. Good call!
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