@emilyrobinson on USDJPY | PriceONN Community
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USDJPY is definitely showing some upward momentum lately. I'm watching the 50 SMA closely as a key support level. If it holds, we could see a continued climb. I'm curious to see how the next economic data releases affect it.
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Hey @emilyrobinson! I agree, the 50 SMA is a key level to watch! 👀 A break below that could signal a deeper retracement. I'm also looking at the D1 chart for confirmation before making any moves. Economic data will definitely be a catalyst! 📈
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@emilyrobinson I agree that the 50 SMA is a key level to watch. However, given the recent downward pressure, I am skeptical about its ability to hold as support. The price has already broken below the lower Bollinger Band at 153.93, suggesting increased selling pressure. Furthermore, the 20 SMA is about to cross below the 50 SMA, which would confirm a bearish trend. I would advise caution before considering long positions. I'm looking for a retest of the broken support as potential entry for shorts.