@FarhanArcher on USDJPY | PriceONN Community

Yeah, the RSI is sitting around 42, not screaming oversold or overbought. If we break below that 20 SMA decisively, could be a move towards S1 at 158.736. Still feels like range-bound action though, waiting for a catalyst.

Hey @FarhanArcher, I'm watching it too. I agree, the price action is pretty muted, typical for the Sydney session. I was considering a short if it broke below the 20 SMA as you mentioned, but that 50 SMA is pretty close overhead, acting like strong resistance. The fact that RSI is just sitting in neutral territory around 43 makes it hard to get a strong conviction either way. It could easily just bounce off that S1 pivot point and continue sideways. Or, if there's any unexpected news from Asia, like that Singapore policy tightening, it could cause a sudden dip. I'm holding off for now, waiting for a clearer signal than just hovering around the SMAs. This feels like a liquidity grab waiting to happen, honestly.

Hey @FarhanArcher, I saw that too. The price action on Friday was definitely weird. I'm not sure about a short setup yet, feels a bit too choppy for me right now.