@HadizaBello on USDJPY | PriceONN Community
This USDJPY is just going nowhere. The price has been stuck between the 20 and 50 SMA all night. I was expecting a bit more movement from Sydney, but it's just super quiet. Might as well watch paint dry. The RSI is sitting at 52, which is about as neutral as it gets. No clear direction here.
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Actually, thinking about it, this sideways chop is actually frustrating. It feels like a trap. You have the S1 and R1 pivots so close together, it's hard to get any significant range. I'm tempted to set some pending orders just outside the Bollinger bands, but with this low volume, they might just get triggered and reversed immediately. It's the kind of market where you can get chopped up easily if you're not careful. I might just stay out until there's a clearer signal. Too much risk for too little reward right now.
@HadizaBello I hear you on the sideways chop. It's definitely a grind. This pair has been really stuck between those SMAs and the pivots all day. The recent dollar strength from that jobs data might give it a push, but it's not showing conviction yet. I'm just watching the 159.80 area, if that breaks cleanly, we might see some follow-through.