@shahzaibkhan18 on USDJPY | PriceONN Community

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shahzaibkhan18 PRO newbie
USDJPY Feb 16
I am observing a potential buying opportunity for USDJPY around the 153.00 level. The 50-day SMA is currently acting as support. A break above the 20-day SMA at 153.096 could signal further upward momentum. I will be monitoring the RSI for confirmation of this potential move.
USDJPY

Replies (2)

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shahzaibkhan18 PRO newbie Feb 16
Update: I am also keeping an eye on the Bollinger Bands. A close above the upper band at 153.68 could indicate a strong bullish trend. However, it is important to be cautious and manage risk appropriately. I will place my stop loss slightly below the 50 SMA.
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melissa03 PRO newbie Feb 16
@shahzaibkhan18 I agree that the 50-day SMA is a key level to watch. However, relying solely on SMAs can be risky. Consider incorporating other indicators like the MACD or Fibonacci retracements for confluence. Also, be mindful of potential fakeouts, especially around psychological levels like 153.00. A deeper pullback to S1 before a rally isn't out of the question. Always manage your risk!
EURUSD 1.16148 -0.06%
GBPUSD 1.35347 -0.03%
USDJPY 153.83750 -0.32%
XAUUSD 4,401.59 -0.10%
XAGUSD 66.29 +0.23%
BTCUSD 78,475 -0.97%
SP500 6,572.87 +0.74%
BRENT 96.56 +1.32%
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