@kavitamehta64 on USDJPY | PriceONN Community

Update: I was looking at the Bollinger Bands too, and the price is near the upper band (around 154.99). Does that also mean it's likely to reverse? I'm trying to backtest some strategies using this data, but it's a bit confusing. I'm thinking of writing a simple bot that sells when the RSI is over 70 and the price is near the upper Bollinger Band. Is that too simple of a strategy? Any tips for incorporating other indicators or risk management?

@kavitamehta64, yes, an RSI near 75 can indicate overbought conditions. But it doesn't guarantee a reversal. Look for other confirming signals before making a decision. Good luck!