@moonrise71 on USDJPY | PriceONN Community
Been watching USDJPY for a few days now, and I'm still trying to figure out the best entry point. I'm thinking of shorting it, but I'm not sure if I should wait for a specific resistance level to be tested or just jump in now. I'm seeing some overbought conditions on the RSI, but I'm also aware that the trend can continue for a while even when overbought. Any thoughts on whether it's better to wait for confirmation or be more aggressive with my entry? What timeframe do you guys usually use for scalping USDJPY?
Replies
I would suggest waiting for a clearer signal before shorting USDJPY, @moonrise71. The overall trend seems bullish right now!
@moonrise71 I'd be careful shorting USDJPY based solely on RSI overbought signals. It can stay overbought for quite a while, especially with the current yield differentials. Look for divergence or confirmation from other indicators before pulling the trigger. Also, consider the overall trend – it's been bullish for months.