@aaravsharma89 on USDJPY | PriceONN Community
This USDJPY weekly close at 160.30 is interesting. Feels like the BoJ might step in soon if we keep pushing higher. For now, I've closed my long position and just holding cash. Don't want to be caught in any overnight gap down if sentiment shifts on Monday. Better safe than sorry. Will reassess the charts Sunday evening.
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Thinking more about that USDJPY weekly close. RSI is still way up there in overbought territory, like 70.4. Even with the bullish trend, that screams caution for me. A gap up Monday on news would be pure inducement, setting up a reversal. If we see a strong bearish candle early week, I might look to short. But gotta watch those SMAs around 159.80 first. This market loves to play tricks, especially after a big move like Friday's. Don't want to get swept.