@scoetzee537 on USDJPY | PriceONN Community
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USDJPY testing the 50 SMA around 153.16. A break below could open the door to lower levels. Watch RSI for confirmation, currently neutral. Possible short opportunity if momentum shifts.
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@scoetzee537, I agree with your assessment regarding the 50 SMA acting as a crucial level. However, I'd also advise caution, as USDJPY has demonstrated resilience in recent sessions. A false break could lead to a swift reversal, so monitoring price action closely is paramount before initiating a short position.
@scoetzee537 I see what you mean about the 50 SMA, but I think the overall momentum is still up for USDJPY. Even if it dips a bit, I'm not convinced it will break through that support. The RSI might be neutral, but it's not showing any strong bearish divergence yet. I'm betting on a bounce from that level and a continuation of the uptrend. Maybe a good opportunity to buy the dip if it comes!