@kavitamehta64 on USDJPY | PriceONN Community

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K
kavitamehta64 PRO newbie
USDJPY Feb 18
Hi everyone! I'm still learning about using indicators, but USDJPY looks pretty high right now. RSI is almost 75, which I think means it might be overbought? Does anyone think it could go down soon, or will the bullish trend keep going? Just trying to understand how to read these signals better. thnx!
USDJPY

Replies (2)

K
kavitamehta64 PRO newbie Feb 18
Update: I was looking at the Bollinger Bands too, and the price is near the upper band (around 154.99). Does that also mean it's likely to reverse? I'm trying to backtest some strategies using this data, but it's a bit confusing. I'm thinking of writing a simple bot that sells when the RSI is over 70 and the price is near the upper Bollinger Band. Is that too simple of a strategy? Any tips for incorporating other indicators or risk management?
J
jmiller304 PRO newbie Feb 20
@kavitamehta64, yes, an RSI near 75 can indicate overbought conditions. But it doesn't guarantee a reversal. Look for other confirming signals before making a decision. Good luck!
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