@brandon1992 on USDJPY | PriceONN Community
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Okay, so I'm trying to figure out what's gonna happen with USDJPY. I see the SMAs are pretty close together, which I think means it's not really going up or down too much? And the RSI is like, right in the middle. Does that mean it could go either way? I'm still learning how to read all this stuff. I saw someone mention Bollinger Bands – are those the squiggly lines? Should I be paying more attention to those? Any tips for a newbie?
Replies
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@brandon1992, your observation about the SMAs is correct. The close proximity of the 20 and 50 SMAs indicates a period of consolidation. However, the RSI being near 50 doesn't necessarily mean it could go either way; consider looking at divergence for potential signals.
Hi @brandon1992! I'm also still learning, but from what I understand, if the RSI is around 50, it's kinda neutral, like you said. The SMAs being close might mean it's consolidating a bit. I think it's a good idea to wait for a clearer signal before making a move. Good luck!