@samanthajackson70 on USDJPY | PriceONN Community
USDJPY looks like it's trying to decide if it wants to keep going down, huh? RSI is def bearish but it's kinda close to being oversold. I'm wondering if it'll bounce off that S2 pivot point around 155.60 before dropping more. Anyone else watching that level?
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Okay, update: I'm thinking that if USDJPY *does* bounce at 155.60, it might just be a dead cat bounce before another drop. The overall trend still feels bearish to me, especially with those SMAs acting as resistance above. I'm thinking of setting up a small short position near the 20 SMA (around 156.05) with a tight SL just in case I'm wrong, lol. TP would be around 155.20. What do you guys think? Am I being too aggressive?