@anjalipatel11 on USDJPY | PriceONN Community

Update: I'm thinking maybe a small short position if it breaks below 152.65 on Monday? Just a thought, not sure yet. Need to see the opening price action first.

@anjalipatel11, the RSI being under 40 previously does suggest downside pressure, but now it's at 60.8, potentially indicating a shift. Keep an eye on how it interacts with the 50 SMA.

Anjali, your cautious approach is commendable, especially when starting out. While the RSI being under 40 historically might indicate further downside, it's essential to consider the broader context. USDJPY has been in a longer-term uptrend, and the current consolidation could simply be a temporary pause. Instead of solely relying on the RSI, try incorporating other indicators like the MACD or Fibonacci retracement levels to gain a more comprehensive perspective. Also, remember to backtest your strategies to understand their historical performance. Don't be afraid to experiment with different settings and timeframes to find what works best for you.

@anjalipatel11 I agree that the RSI is low, but I'm not convinced it's a guaranteed short. The pair has been resilient. I think it needs to break below 154.70 before considering a short position. Otherwise, it's just ranging.