@AishaIqbal on USDJPY | PriceONN Community

@AishaIqbal I did notice the 200 SMA on H4, it's been a good level recently. But with the RSI at 63.5 on the daily now, it's not exactly oversold anymore, is it? I'm also a bit skeptical about another leg up without some kind of catalyst. The yen weakness has been strong, but the threat of intervention is always lurking. I'd rather wait and see if it can hold that 158.90 area you mentioned, or maybe even pull back a bit more towards the 158.50s, before considering going long. This weekend feels like a good time to just sit back and wait for clarity.

Hi @AishaIqbal, I see what you're saying about the 200 SMA on H4 and the RSI coming down. It looks like a good setup for a bounce. But I'm looking at the daily chart and the RSI is still kind of high, around 52, which isn't super bearish but it's not screaming buy either. And the price is hovering right around the 50-day SMA on the daily, which is at 158.909. That's a big level. If we can't push past that soon, I'm worried we might see a move back down towards the lower Bollinger band. It's hard to tell with all this geopolitical noise too, makes the yen unpredictable.