@moonrise520 on USDJPY | PriceONN Community
M
My expectation for next week is a continuation of the uptrend, but with increased volatility. I'll be keeping a close eye on the RSI to gauge momentum and potential overbought conditions. A pullback to the 157.50 level could present a buying opportunity.
Replies
@moonrise520 I agree with your uptrend expectation, but I'm a bit more cautious about that 157.50 level. It's a nice round number so I'm sure ppl will be watching it, but it's also a prime spot for inducement before a deeper retracement. RSI is useful but can be faked out easily. I would consider waiting for confirmation of support before FOMOing in, maybe look for a higher low on the H4 chart. Remember what happened last month when everyone piled in, got stopped out quickly. Patience, young padawan.
O
@moonrise520 While I respect your bullish outlook, I'm not convinced USDJPY has the legs to continue upwards. The RSI is hovering around neutral, not showing strong momentum, and we're approaching a key resistance zone around 158.00. Considering the global economic data signals mixed trends, and the oil crisis adding uncertainty, a pullback is more likely. I'd be wary of entering long positions without a clear break above that resistance. Maybe wait for a confirmed breakout before committing.