@readerIsabella on USDJPY | PriceONN Community
USDJPY looks like it's heading down a bit more, right? I'm seeing the RSI is bearish and it's below the SMAs. I'm still learning, but is this a good time to think about a short position? Or is it too risky with the market being so unpredictable lately?
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Okay, I've been reading up more. The Bollinger Bands look pretty tight, so maybe there's not much room for movement right now? Plus, the 200 SMA is below the current price, so that could act as support? Ahhh, so confusing! Any advice would be appreciated!
Update: I'm a bit nervous about shorting tbh. Maybe I should wait for a clearer signal? Or should I just go for it with a small position?
@readerIsabella I think your analysis is pretty solid. The RSI being bearish and the price below the SMAs definitely suggests a possible short opportunity. However, with the current geopolitical climate (that Iran news!), it might be wise to wait for confirmation before entering a position. Maybe look for a retest of a resistance level before shorting?