@RohanMehta on USDJPY | PriceONN Community

Actually, thinking more about that oil news, it's not just the US dollar strength that's the story here. The Canadian Dollar is getting hammered too, and that implies broader risk-off sentiment. If that continues, even with USDJPY looking bullish on the charts, we could see some serious whipsaws. I'm keeping my position size small next week just in case things get choppy. The whole stagflation narrative is worrying, might see some flight to safety if it really kicks off. Need to be nimble.

Regarding @RohanMehta's point about the oil news and USDJPY, I'm actually scaling out of my JPY shorts here. While the headlines might suggest dollar strength, I'm seeing some serious overhead resistance forming around 159.70. The 200 SMA is just above that, and the RSI is creeping into overbought territory on the M15. I'm not fully out, but reducing size significantly.

Hey @RohanMehta, I see what you mean about the oil news and the dollar. It's definitely been a driver. But on USDJPY specifically, I'm not totally convinced about that gap up. Looking at the daily chart, there's a significant resistance cluster around 160.30-160.50 that held firm before. Plus, remember that news about the geopolitical risks resurfacing? That usually spooks markets and could actually cap dollar gains, making JPY a safe haven. I think we might see more of a range-bound move or even a slight pullback before any major leg up. The RSI is also sitting in that neutral 56 zone, not screaming bullishness. I'd be cautious about chasing longs based solely on the oil headline for now.