@dmoore22 on USDJPY | PriceONN Community
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Is anyone else seeing a potential breakout on USDJPY?? RSI is pretty high, almost overbought but the 20 SMA is about to cross above the 50 SMA on the H4 chart. Could be a good time to golong if it breaks resistance at 159.00
Replies
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Okay, so I've been doing some more digging, and I think this USDJPY move could be legit. Looking at the D1 chart, we've been consolidating for a while, and now we're seeing some serious displacement. That could mean a major push to the upside. I'm thinking of setting my TP around 159.50, but I'm also a little worried about a potential pullback. Maybe I should wait for a retest of the 158.80 level before entering? What do you guys think? I dont wanna be a bag holder if it retraces hard lol
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Oh and also, the dollar seems to be holding steady even with the CPI news. Maybe smart money is betting on the Fed staying hawkish?
@dmoore22 I see what you mean about the SMA cross, but I'm a bit worried about hitting 160 too soon. The news around potential intervention feels strong. Maybe wait for confirmation after the Fed announcement?