@christopher2609 on USDJPY | PriceONN Community

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christopher2609 PRO newbie
USDJPY Feb 26
USDJPY is exhibiting a clear bearish trend, confirmed by the recent price action breaking below the 20 and 50 SMAs. The RSI, currently at 43.7, indicates further downside potential before entering oversold territory. I anticipate continued selling pressure towards the 155.50 level in the short term. Monitoring for a potential bounce around the 155.00 psychological level.
USDJPY

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christopher2609 PRO newbie Feb 26
Update: Further analysis suggests that a break below 155.50 could trigger a more significant sell-off, potentially targeting the 154.90 level, aligning with the 200 SMA on the daily chart. However, the market may experience some consolidation around the 155.20-155.30 range before resuming its downward trajectory. A retest of the broken SMAs is also possible, offering a potential short entry opportunity. I'll be watching price action around these levels closely before making any further adjustments to my positions. It's important to consider the news cycle as well, any unexpected announcement could easily change the direction.
EURUSD 1.16305 +0.00%
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USDJPY 159.86850 -0.01%
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