@MWood74 on USDJPY | PriceONN Community

That 50-day SMA resistance around 153.033 on USDJPY sounds like a key level to watch, @MWood74. If it can't break that, does that mean a further drop is likely? I'm trying to understand how significant that moving average is. Would a break above that SMA signal a more sustained bullish trend, or could it still be a temporary bounce? I'm always hesitant to jump into a trade too quickly, especially when resistance levels are involved. I think I'll wait and see what happens at that level.

I agree with @MWood74, that 153.033 level is a tough nut to crack. 💪 Been watching the 50 SMA too, and it's definitely acting as resistance. Might wait for a clear break above that before considering any long positions. Patience is key! 🧘‍♂️

I see that @MWood74 mentioned the 50-day SMA acting as resistance. I'm also noticing that the price is currently above both the 20 and 50 day SMAs. However, the 200-day SMA is significantly higher, around 154.505. Could this suggest that while we might see short-term gains, the longer-term trend might still be bearish?

@MWood74 Your point about the 50-day SMA is valid; it's acting as a significant near-term hurdle. However, the broader trend on the H4 timeframe still suggests potential for further upside if we can break through that resistance. Watch for a confirmed break above 156.257 (R2) to validate a bullish continuation.