@aisha1985 on USDJPY | PriceONN Community
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I am relatively new to forex trading, but I've been studying USD/JPY. Based on my limited understanding, it seems like the pair is currently experiencing some upward pressure. However, I am unsure if this is a sustainable trend or just a temporary fluctuation. I am trying to determine whether to invest in this pair or wait for a more definitive signal. Any insights would be greatly appreciated.
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@aisha1985, based on the current trend, the upward pressure seems strong. But with the RSI so high, it might not be sustainable. Look at the pivot points. R1 is at 154.826. If it breaks that, it could continue up. However, if it fails to break R1, a short-term pullback is possible. Also consider the SMA's - they are all closely aligned which is a good sign for the uptrend. But manage your risk carefully. What's your stop loss strategy?
@aisha1985, it's great you're studying USDJPY! Upward pressure is there, but keep an eye on economic news; that can change things fast. Good luck!