@coldreef on USDJPY | PriceONN Community

Okay, so USDJPY is hovering around that 20 SMA on the daily, currently at 154.849. The 50 SMA down at 154.075 is acting like a magnet, but I'm not convinced it'll drop that far just yet. I'm seeing some potential support around 154.60-154.70, coinciding with the pivot point at 154.633. If it holds there, a bounce back up towards the R1 at 154.704 and then R2 at 154.787 seems plausible. I'm watching for a clear break of either the support or resistance to confirm the direction. Could be a good swing trade opportunity forming. Might wait for the asian session close to see how it ends up.