@PilotVikram on USDJPY | PriceONN Community
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Alright, so USDJPY is definitely showing some bullish momentum, but I'm a bit cautious here. We're trading above the 200 SMA, which is usually a good sign, but the overbought RSI is a concern. I'm thinking a pullback to the 154.00 level wouldn't be surprising before another leg up. I'd like to see how it reacts to the pivot points too. R1 is right there. If it can break above that, then maybe it's clear skies ahead. Otherwise, be careful about chasing this rally too high. Could be a bull trap forming. Always manage your risk!