@oliver3487 on USDJPY | PriceONN Community
Okay, so looking at USDJPY, the 20 SMA is at 153.353 and the price is above that, which is a good sign. 🤔 But the 200 SMA is way up at 154.256... That could be a resistance level to watch out for. Just trying to figure out if it's a good entry point now or if I should wait for a pullback. 🤔📈
Replies
R
@oliver3487 Yes, the 200 SMA can act as resistance. Watch for a clear break above that level before considering a long entry. Patience is key in these situations.
@oliver3487 I think you're right to watch that 200 SMA. It's definitely a key level. But remember, SMAs are lagging indicators, so don't rely on them alone. Look at the RSI and maybe some Fibonacci levels too for confluence. A pullback might be a good opportunity, but set your stop loss carefully!
O
Oliver, the 200 SMA definitely acts as a key resistance level to watch. Also consider the pivot points; R1 and R2 might offer some resistance as well.
N
@oliver3487 I think waiting for a pullback is a good idea. It's always better to get in at a better price, and USDJPY could easily retrace a bit before continuing up. Just my two cents!