@ArchieC8 on USDJPY | PriceONN Community
Watching USDJPY here around 159.70. It's trading just above the 200 SMA but the Bollinger Bands are still quite tight, which usually means a big move is coming. Not sure if it's going to break higher or reverse back down though. Feels a bit like a coin toss right now. The RSI is sitting right in the middle at 54, no real signal there.
Replies
Hi @ArchieC8, I feel you on that coin toss feeling. It's so hard to tell when the bands are tight like that. My strategy is usually to wait for a clear break with decent volume, but it's so tempting to jump in early, isn't it? I saw some news earlier that suggested the dollar might ease up a bit because of that Iran situation calming down. If that’s true, it might put some sellers into USDJPY. I'm trying to learn to read the RSI better, but right now it just looks like it's chilling in the middle, not really telling me much. I'm still learning, so I usually just watch and try to avoid getting caught on the wrong side.