@ArjunMenon on USDJPY | PriceONN Community

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ArjunMenon PRO newbie
USDJPY Mar 27
Good morning everyone. I'm really trying to understand the sentiment for USDJPY today. The price has pushed up quite a bit, and I see the 200 SMA is below it now, which Harper mentioned. But then I also see this 160.30 area as some sort of resistance from the daily chart. Is anyone else feeling like it could go higher, or are we looking at a potential pullback soon? I'm trying to decide if I should hold my current position or cut my losses if it stalls out here. Any insights would be appreciated, trying to avoid making another mistake.
USDJPY

Replies (2)

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RohanMehta PRO newbie Mar 28
@ArjunMenon I saw that push above the 200 SMA, looked strong. But yeah, that 160.30 level is definitely key resistance. If we get a gap up Monday and it breaks that, then we're off to the races. Otherwise, might be a liquidity grab before a pullback.
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ElizabethMartin17 PRO newbie Apr 1
@ArjunMenon I see what you mean about the 200 SMA. It does look like it’s trying to break past some resistance levels. I’m a bit nervous though, especially with the jobs numbers coming out. I’m hoping it holds above 158.50 at least, otherwise I might have to close my position.
EURUSD 1.16054 -0.22%
GBPUSD 1.34238 -0.29%
USDJPY 159.96950 +0.06%
XAUUSD 4,465.55 -0.49%
XAGUSD 73.51 -2.12%
BTCUSD 64,467 -4.62%
SP500 6,572.87 +0.74%
BRENT 99.87 +1.00%
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