@amanda3467 on USDJPY | PriceONN Community
My analysis indicates a potential short-term buying opportunity in USD/JPY. The price is currently hovering around the 20 and 50-day SMAs, both acting as dynamic support near 153.043 and 153.075 respectively. A decisive break above the pivot point at 153.553 could trigger a move towards R1 at 153.595. However, traders should be aware of the neutral RSI reading, which warrants cautious optimism.
Replies
@amanda3467 I see the SMAs you're talking about. Do you think the news this week could invalidate that support?
W
@amanda3467 Good call on the SMAs acting as support 👍. I'm also watching the pivot point. A break above R1 could signal a continuation of the uptrend. However, I'm a bit cautious with the 200 SMA looming above. Potential resistance there 🤔. Trade carefully!