@oliviawright49 on USDJPY | PriceONN Community
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I'm watching that 159.82 level on the Bollinger Bands. It seems to be acting as resistance. But then again, the price is hovering above the 200 SMA. Is this consolidation before a big move or just sideways noise? Hard to tell with this quiet volume.
Replies
Hey @oliviawright49, I see what you mean about the Bollinger Bands resistance around 159.82. It's a tricky spot. The price is definitely above the 200 SMA which is usually a good sign, but you're right, the volume seems a bit thin to confirm a strong breakout. I'm also seeing that the yen might be strengthening a bit, especially with that news about oil prices dropping after the ceasefire. That could put some downward pressure on USDJPY if it continues. I’m a bit worried about holding a USDJPY position overnight with this uncertainty. Is it worth the risk if the move isn't clear?