Looking at USDJPY, I'm considering a long position if it breaks above the R1 pivot at 155.186. A tight stop-loss just below the pivot point seems reasonable. Targetting R2 at 155.301, but I'm a little unsure about the RSI being neutral. Any thoughts on this potential setup?
Update: I'm also watching the 50 SMA on USDJPY. It's acting as a support level right now. If the price breaks below that, my long idea is invalidated. I will reassess at that point. Still think there's potential upside if it holds above 154.333.
