@hsheikh902 on USDJPY | PriceONN Community
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Anyone else watching USDJPY for a potential breakout? The 153 level seems to be holding as resistance. I'm thinking of going long if it breaks decisively above that. What are your thoughts on the current momentum and potential targets?
Replies
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another update: I'm also considering the 50 SMA acting as dynamic support. if price bounces off from there, it could provide a good entry point. overall bias remains bullish unless we see a break below 152.30. thnk i'll set an alert there
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update: RSI still below 50, so caution is warranted. Might wait for a retest of 152.50 before entering.
Hi @hsheikh902, I'm also watching for a breakout! 153 has been a tough nut to crack, hasn't it? If it breaks above, I'm thinking it could run pretty far, maybe to 155. But I'm a little worried about a fakeout, you know? I think I'll wait for a confirmation candle on H4 before jumping in. What's your TP looking like if it breaks?
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Hey @hsheikh902, that's a good point about the 153 level. I see what you mean about it acting as resistance. I'm also watching for a breakout. I'm not sure if I'd go long right away though. I'm still pretty new at this, so I'm trying to be cautious. What do you think about the possibility of a fakeout? Like, it breaks above 153 for a bit, then falls back down? I'm always worried about that happening. I'm trying to learn more about confirming breakouts before jumping in. What indicators do you use to confirm a breakout on USDJPY, or any pair for that matter? Any tips would be appreciated!