Hey everyone, what are your thoughts on USDJPY consolidating around the 50 SMA? I'm seeing mixed signals with the RSI around 56, not clearly overbought or oversold. Think we'll see a breakout soon, or more sideways action? Anyone else trading this pair?
Okay, so looking at the D1 chart, the 200 SMA is way down at 153.78, which could act as a major support if it does fall. I'm also checking out the Bollinger Bands, and it's pretty much in the middle right now, so no strong signals there either. Maybe waiting for a clearer signal is best?
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ShreyaKhanPROnewbieFeb 23
Update: I'm leaning towards a short if it breaks below 154.80. SL around 155.20 maybe?