@KevinTaylor54 on USDJPY | PriceONN Community
K
USDJPY is showing strong bullish momentum! The RSI is above 60 and the price is holding above the 20 and 50 SMAs. I'm anticipating further upside this week, potentially testing the 200 SMA around 154.80. Keep an eye on those Bollinger Bands as well, a breakout above the upper band could signal continued strength.
Replies
K
Update: I'm adjusting my TP target slightly higher based on the current price action. The strong bullish trend suggests we could see a push towards 155.00 in the coming days. I'm also tightening my SL to protect profits in case of a sudden reversal. It's crucial to monitor the news releases and any potential market-moving events that could impact USDJPY. I think the overall sentiment is positive, but always be prepared for unexpected volatility. Remember to manage your risk accordingly and not overleverage your positions. Happy trading everyone!
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@KevinTaylor54 I agree with the bullish sentiment, but the 200 SMA might be a tough level to crack on the first try. Could see a pullback from there.
Interesting points, @KevinTaylor54! 👍 I agree the bullish momentum *seems* strong, but I'm a bit cautious about that RSI being above 60. Could be overbought territory soon. 🐻 What are your thoughts on a potential pullback before testing the 200 SMA? I'm also keeping a close eye on those Bollinger Bands you mentioned. 👀 A breakout above the upper band could definitely signal further upside, but I'd want to see some confirmation first. Perhaps a retest of the band as support? 🤔
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@KevinTaylor54 Hmm, I'm not so sure about the bullish momentum. RSI is below 50, isn't it? And while the price is around the 50 SMA, it's below the 20 SMA. 🤔 I think it's a bit early to call it strongly bullish. I'm thinking it may consolidate a bit before any major move. Could even see it testing lower levels before going up! I'm going to wait and see before making any big moves. Patience is key, right? 🐢🐢🐢