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USDJPY seems stuck. The 20 and 50 SMAs are so close together, it's hard to get a read on direction. RSI is right at 50 too, so no help there. I'm thinking sideways action for a bit? Maybe wait for a breakout above 156.20 or below 155.80 to make a move.
Update: I'm also looking at the Bollinger Bands on the hourly chart. It looks like USDJPY is right at the upper band (156.35). Could be a sign of overbought conditions, but tbh, I'm not entirely sure how reliable that is on its own. Anyone else use Bollinger Bands?
