@amelia4563 on USDJPY | PriceONN Community

Update: I've noticed that the 200-day SMA is positioned slightly above the current price at 154.135. This could act as a significant resistance level, potentially limiting further upward movement. It might be prudent to wait for a confirmed breakout above this SMA before considering a long position. I'm also keeping an eye on the Bollinger Bands; the price is currently near the upper band, suggesting it might be slightly overbought! what do you all think? I'm new to this and really appreciate input. Also, I'm curious to see how the market reacts to any news releases later today.

Hey @amelia4563, good observation about the RSI! I agree, 66.1 is definitely bullish. However, like you said, that R2 pivot at 154.953 is a key level. I'd wait for a clear break above that before considering a long entry. Otherwise, it might be a false breakout leading to a quick reversal. Just my opinion though!