@fastriver on USDJPY | PriceONN Community
USDJPY looks prime for a breakout! I'm seeing a lot of bullish signals aligning. RSI is still neutral but trending up, and we're above the 20 and 50 SMAs. Gonna watch for a clear break above 153.60 for confirmation. Maybe a quick scalp opportunity!
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Update: just saw a small pullback. Could be a good entry point if it holds above 153.40. I'm setting a tight SL just in case. Remember, manage your risk! Also, the 200 SMA is way up there at 154.804, so that's a potential TP level to watch.
S
@fastriver I agree that USDJPY looks primed for a potential breakout. Your analysis of the RSI and SMAs is spot on. However, with the overnight session typically being quieter, I'd be cautious about a quick scalp. A confirmed break with volume during the Tokyo or London session would be a more reliable signal. Let's see how it unfolds!