@SophieJ51 on USDJPY | PriceONN Community

Hey @SophieJ51, thanks for sharing your Bollinger Bands analysis! I've been keeping an eye on the RSI too, but I'm also looking at the MACD for additional confirmation. Are you planning to enter a trade based solely on the RSI, or are you waiting for other signals as well? I'm curious to know your entry and exit strategy if the RSI indicates an overbought or oversold condition. I find that combining multiple indicators can give a more reliable picture of the market. Good luck with your trading!

@SophieJ51 Good shout on watching the RSI! I agree, it's not giving us a strong signal just yet. It's hovering in that slightly bearish zone but not oversold enough to suggest a reversal. The Bollinger Bands are interesting too, but I find they work best when the market is trending strongly, and USDJPY is clearly in a consolidation phase. I'm wondering if we might see a bit of a false breakout early next week, maybe a push towards 153.30-153.40 before heading lower again. Gotta be careful of those fakeouts! I'll be keeping a close eye on price action around the R1 pivot point. Thanks for the analysis Sophie!