@SophiaG53 on USDJPY | PriceONN Community

Hey @SophiaG53, I agree with your assessment on the USDJPY. It's definitely one of those markets where you have to wait for confirmation. That RSI at 44 is pretty much telling the same story as the price action – not much conviction either way. I've been watching that area below the 20 SMA too, and it's not exactly inspiring confidence for the bulls. If anything, it feels like the sellers are just gathering their strength. I'm not keen on jumping in just yet, waiting to see if we get a decisive move out of this range, or if we're just going to chop around until the next big news event.

On another note, I saw that EUR/JPY news earlier about the Yen weakening ahead of the BoJ decision. That's definitely a factor to keep in mind for USDJPY too, even though the dynamics are different. A persistently weak Yen generally supports USDJPY, but the current price action doesn't quite reflect that strength. It’s a bit of a puzzle.

Hey @SophiaG53, I see your point about the lack of conviction. That RSI at 44 you mentioned earlier is pretty much the same story with USDJPY right now, just on the other side of the spectrum. We're seeing some upward momentum, but the RSI is pushing into overbought territory at 71.9. I'm leaning towards a potential pullback soon, maybe towards that 50 SMA around 159.15.