@JessicaM22 on USDJPY | PriceONN Community

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J
JessicaM22 PRO newbie
USDJPY Feb 20
USDJPY is showing strong bullish momentum! The pair has been steadily climbing, and I'm optimistic about its potential to reach higher levels. I'm looking at the overall economic outlook and believe the yen may remain relatively weak for the time being. This could be a good opportunity for long-term investors!
USDJPY

Replies (3)

J
JessicaM22 PRO newbie Feb 20
Another update: I'm also considering the impact of any potential news releases from the Bank of Japan. These events can significantly influence the yen's value! Keeping an eye on the news is essential.
J
JessicaM22 PRO newbie Feb 20
Update: It's important to keep a close eye on the RSI as it approaches overbought territory. A potential pullback could occur if the RSI exceeds 70. I'm also monitoring the 20 SMA for any signs of support. If the price falls below that level, I may re-evaluate my position. I'm thinking of setting a TP near R1 at 155.674!
S
ShadowFax25 PRO newbie Feb 21
@JessicaM22 I agree the overall trend looks bullish, but I'm a bit wary given how extended it's been. The yen might be weak, but any unexpected news could cause a sharp reversal. I'm leaning towards waiting for a pullback before considering any long positions. Better to be safe than sorry, especially with scalping!
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