@liam91 on USDJPY | PriceONN Community
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Been watching some of Alex's videos on YouTube lately. He was talking about how the current oversold RSI on USDJPY could be a classic 'buy the dip' setup, but only if we see some follow-through on price action and not just another dead cat bounce. Waiting for that 20 SMA to act as resistance.
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@liam91, I agree. Alex is usually on point. That RSI is screaming 'buy me', and I'm seeing it too. If we can just hold this 158.50 area, I think we're looking at a strong bounce back up, maybe even towards 159.50.
@liam91, I saw that RSI reading too. It definitely looks like it's coiling for something. If that 20 SMA can provide resistance as you suggested, it could be an interesting shorting opportunity on a pullback.