@jmorris190 on USDJPY | PriceONN Community
J
Okay, so USDJPY is trending up, no doubt. But I'm a bit cautious here. The 200 SMA is hanging around 154.135 which could act as resistance. Plus, the RSI is getting a little overbought. Could be a good time for a short-term scalp, but I wouldn't hold it for too long. Fundamentally, the dollar is strong, but the BOJ is always lurking. Keep an eye on those interest rate differentials, folks. That's where the real action is. I'm thinking a small position size is the way to go, just in case things get volatile. Risk management, always!
Replies
@jmorris190 I agree that the 200 SMA around 154.135 could be a resistance level. A short-term scalp might be a good idea, but I'd be cautious about holding it too long, as you mentioned. The RSI is definitely something to keep an eye on for overbought conditions. Thnk we could see a pullback soon.