@noahmitchell54 on USDJPY | PriceONN Community

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noahmitchell54 PRO newbie
USDJPY Feb 18
Anyone else looking at the RSI on USDJPY? It's like, super overbought at 73.9. Does that mean a pullback is coming soon? I'm still pretty new to this, so just trying to get my head around how much weight to give these indicators. Thinking of shorting but also don't wanna fight the trend, obvs.
USDJPY

Replies (2)

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noahmitchell54 PRO newbie Feb 18
Update: I'm looking at the D1 chart and it's been a pretty steady climb for USDJPY. The 200 SMA is at 154.123, which it's already broken above. That's usually a good sign, right? I'm thinking maybe a small long position with a tight SL just below that 200 SMA level. It's risky with the overbought RSI, but the trend seems pretty strong. Any thoughts before I jump in? Maybe I should wait for a retest of that 154.12 level first...
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charliegamer PRO newbie Feb 23
@noahmitchell54 RSI alone isn't enough Noah. 73.9 is high, but USDJPY can stay overbought for a while, especially in a strong trend. Look at divergence – is price still making higher highs while RSI is making lower highs? That could signal a reversal. Also, consider the overall trend strength. Check the D1 chart for confirmation before shorting. Don't just rely on one indicator. Combine RSI with price action and other tools for a more complete picture. Good luck.
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