@cwright358 on USDJPY | PriceONN Community
USDJPY seems to be consolidating just below the R1 pivot at 153.497. The RSI is neutral, not giving a clear buy or sell signal. A break above R1 could trigger a move towards R2 around 153.58, but the 200 SMA lurking above at 154.222 is a significant hurdle. Need to be cautious of a potential fakeout.
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Update: Watching for a possible short entry near 153.60 if it rejects that level again. I'm anticipating some profit-taking before the weekend. The bollinger bands show a squeeze, so a breakout could be violent in either direction. Keeping my position size small and my stop-loss tight just in case.