@skumar773 on USDJPY | PriceONN Community

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This USDJPY price action is quite interesting right now, with the RSI so low. I've been hearing a lot about using Ichimoku Cloud for trend confirmation, especially when things get choppy like this. Does anyone have experience trading USDJPY with the Ichimoku system? I'm trying to understand how the Kijun-sen and Tenkan-sen interact here.
USDJPY

Replies (1)

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skumar773 PRO newbie Mar 19
Thinking more about the Ichimoku Cloud, I wonder if it's better for longer-term trends or if it can be adapted for intraday like this NY session. The fact that the price is sitting below the 200 SMA and the 50 SMA on the chart right now makes me think a bearish bias is more appropriate, but the oversold RSI is throwing me off. Maybe the cloud can help filter some of these conflicting signals. I need to backtest it properly before risking any capital though. Just trying to build a more robust strategy.
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