@NadiaA81 on USDJPY | PriceONN Community

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USDJPY exhibiting range-bound behavior currently. The 200 SMA at 155.162 continues to act as significant resistance. A break above this level would signal a strong bullish continuation. Monitoring price action closely for confirmation!
USDJPY

Replies (1)

A
aryan2003 PRO newbie Feb 18
I agree with you @NadiaA81, the range-bound behavior is pretty evident right now. That 200 SMA is definitely a tough nut to crack. A sustained break above 155.162 would be a strong bullish signal, but I'm a bit skeptical given the overbought RSI. I'm thinking a possible short-term pullback to around 154.50 before any further upward movement. Will keep an eye on the price action near that resistance level though. Maybe wait for confirmation on the H4 chart before making a decision.
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