@williamwhite on USDJPY | PriceONN Community
USDJPY looking pretty indecisive atm! RSI hovering around 50 suggests no clear momentum. SMAs are a bit mixed too, the 200 SMA is way up there at 154.413 acting as major resistance i think. Might wait for a clearer signal before jumping in. Anyone else think the same?
Replies
@williamwhite I kinda disagree with waiting for a clearer signal. I think the breakout above the Bollinger Band is a pretty strong indication of bullish momentum. The 20 SMA is also above the 50 and 200 SMAs, indicating an upward trend. While the RSI is a little high, it's not in overbought territory yet. I'm thinking a small pullback and then it's gonna keep going up. I'm already in long, so maybe I'm biased lol! I set my TP around 155.60. Good luck!
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@williamwhite, I agree that USDJPY is showing indecision. The mixed SMAs and neutral RSI certainly point to that. I'm a bit skeptical about the 200 SMA acting as major resistance though, given that the price is already above it. I think the key level to watch is the pivot point around 155.086, a decisive break above or below could dictate the direction for the next week.