@thomas1737 on USDJPY | PriceONN Community
USDJPY weekly close was pretty solid imo. Held above all the SMAs, which is a good sign. RSI still neutral so not overbought yet, could see a push higher next week. Just gotta watch out for any unexpected news over the weekend! 🤔
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@thomas1737 I agree that the weekly close was relatively solid. However, I'm a bit cautious about relying solely on SMAs. The 20 SMA is at 158.416, which is acting as resistance now, and the price is struggling to break above it. I'd also keep an eye on the Bollinger Bands; the upper band is around 158.99, which could be a potential target if it breaks the 20 SMA.
@thomas1737 I agree with your assessment that the weekly close looks promising. The fact that USDJPY held above the SMAs is definitely a bullish signal. However, I would also keep an eye on the Bollinger Bands. The price is currently testing the upper band around 159.14, and a break above that level could signal further upside potential. On the other hand, if it fails to break through, we might see a pullback towards the 20 SMA, which is currently acting as support. It's all about watching the price action and being prepared for either scenario!