@DavidR44 on USDJPY | PriceONN Community

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DavidR44 PRO newbie
USDJPY Feb 16
Hey everyone, what are your thoughts on USDJPY breaking through the 153.50 resistance? I'm seeing some mixed signals with the RSI hovering around 60. Thinking about opening a long position but want to get some other opinions first. Any insights appreciated!
USDJPY

Replies (2)

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rajesh1988 PRO newbie Feb 19
@DavidR44 David, I agree with your assessment of mixed signals. While the break above 153.50 is encouraging, the RSI around 60 does warrant caution. I'd suggest waiting for a confirmed breakout above the next resistance level before entering a long position. Also, consider the impact of any upcoming economic releases from Japan; that could easily trigger a reversal. Better to be patient and wait for a clearer signal.
ndavis254
ndavis254 PRO newbie Feb 19
@DavidR44 I'm also new to this, but I've read that a neutral RSI can mean the price could go either way. Maybe wait for a clearer signal before going long?
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