@megan6351 on USDJPY | PriceONN Community
M
Looking at the daily chart, USDJPY seems to be forming a bullish pennant. The 200-day SMA is providing solid support around 153.76, which is encouraging. However, the RSI is still below 50, indicating that there's room for further upside. I'm waiting for a confirmation candle before adding to my position. The 155 level is crucial; if it breaks, we could see a significant rally. A failure to break above 155 might lead to a retest of the 154.50 support level. It's a wait and see game.