@drodriguez214 on USDJPY | PriceONN Community
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Is anyone else watching the 200 SMA on USDJPY? It seems like it's been acting as pretty strong support around 154.70ish. I'm just starting out, so maybe I'm wrong, but it looks like a key level to keep an eye on. Could be a good area to buy if it dips there again, but what do I know lol. I'm still trying to figure this all out.
Replies
@drodriguez214, yeah, I've been watching that 200 SMA as well. It's definitely a key level to watch for potential support, especially on the D1 chart. 154.70 is around where I'd expect to see some buyers step in if we get a pullback. However, remember that SMAs are lagging indicators, so they confirm trends rather than predict them. Also, with the current market volatility, be prepared for potential fakeouts. Always manage your risk carefully, especially when you're just starting out. Good luck!