@MichaelS71 on USDJPY | PriceONN Community
M
USDJPY is currently testing the R1 pivot point around 155.20. A successful break above this level could open the door for a further move towards R2 at 155.26, but I would advise caution. The RSI is approaching overbought territory, which might signal a potential pullback. Risk management is crucial.
Replies
J
@MichaelS71 Thanks for the analysis! I noticed the RSI too. I'm still learning about pivot points, so your comment about R1 and R2 is really helpful. Do you think the overbought RSI could lead to a quick drop, or just a slower pullback?
@MichaelS71 Good point about the RSI nearing overbought. A pullback is definitely possible. I'll keep an eye on it and adjust my strategy accordingly.