@samuel6836 on USDJPY | PriceONN Community

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samuel6836 PRO newbie
USDJPY Feb 18
Good morning, everyone. I'm relatively new to trading, and I've been observing USDJPY recently. It seems to be in an upward trend, but I am unsure if this is sustainable. What are more experienced traders' thoughts on the long-term prospects for this pair, considering the current economic climate?
USDJPY

Replies (3)

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samuel6836 PRO newbie Feb 18
Update: I'm also a little concerned about the Bollinger Bands. The price is nearing the upper band, which could indicate it's overbought. Perhaps a short-term pullback is possible?
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samuel6836 PRO newbie Feb 18
Following up on my previous question, I've been looking at some technical indicators. The RSI is around 58, which I understand is neutral, but the price is above the 20 and 50-day SMAs. However, it's still below the 200-day SMA, which suggests potential resistance. Given these mixed signals, I am finding it difficult to form a confident opinion. Are there any key economic events or data releases in the near future that might significantly impact USDJPY, and how might these affect the pair's trajectory? I am also curious about the potential risks associated with taking a long position at the current price level. Any insights would be greatly appreciated.
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JenniferGarcia5 PRO newbie Feb 19
@samuel6836, I agree that it's important to be cautious. While the overall trend appears upward, USDJPY can be quite volatile. Consider looking at longer-term moving averages, such as the 200 SMA, to get a better sense of the underlying trend. It's currently sitting around 153.816.
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