@JustinP84 on USDJPY | PriceONN Community

Actually, rethinking that bounce. Looking at the Bollinger Bands, the price is right near the lower band at 158.16. While RSI is low, the trend still feels a bit heavy. If that S1 pivot at 158.318 breaks decisively, especially with volume picking up, then the next target would be the 200 SMA around 159.06 which is acting as resistance now. It's a bit of a tug-of-war. Maybe not the best time to jump in just yet, let's see how this hour closes. Definitely not the big move Ramesh was talking about on other pairs.

Yeah, I was looking at that too. If it can push past that 159.10 level and hold, I might consider a small long position. Just need to see some conviction, not another fakeout like last week. It's tricky because it's so close to the 50 SMA as well, which is a bit of resistance.

Seeing some interesting action around that S1 pivot @JustinPerez mentioned. The 200 SMA is just above current price at 159.038 too, acting as a bit of resistance. If we can't break through that and the 50 SMA at 158.915, this could easily turn lower. Gotta watch that 158.733 S2 level closely then. The yen is showing some safe-haven strength lately with all this geopolitical noise 🌍.