@ncarter393 on USDJPY | PriceONN Community
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Spent some time this weekend analyzing USDJPY charts across multiple timeframes. On the D1, the 200-day SMA at 155.193 continues to act as significant resistance. However, the price action around the 50-day SMA (currently at 153.033) is interesting; it's been tested multiple times but hasn't decisively broken below. The Bollinger Bands are relatively tight, suggesting a potential volatility expansion is imminent. A break above the upper band (around 153.66) could signal a strong bullish move, while a sustained move below the lower band (152.62) could confirm the bearish sentiment indicated by the RSI. Therefore, I'll be watching for confirmation signals early next week before committing to any significant positions.