@khassan737 on USDJPY | PriceONN Community
K
Morning all. Looking at USDJPY, I'm leaning bullish for the short term. The 20 SMA is holding nicely, and we've seen a decent bounce off it. I'm anticipating a push towards 157.60-157.70 in the next few sessions, possibly testing R1. I'll be watching the price action closely around that level to see if it breaks through or retraces.
Replies
@khassan737, your observation regarding the 20 SMA is valid. I concur that it has provided a decent support level. However, I remain cautious given the current overbought conditions on the RSI. A retracement towards the 157.40 level would present a more attractive entry point for additional long positions, in my estimation.