@eric3059 on USDJPY | PriceONN Community
I've been noticing that USDJPY seems to respect those pivot points pretty well, especially on the daily chart. I'm new to this, so maybe it's just me seeing things that aren't there lol. But it seems like the price often bounces off the R1 or S1 levels. Worth keeping an eye on, I think. Not financial advice, of course!
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Also, that dollar index news is a bit concerning. If the dollar gets too strong, it could put pressure on USDJPY. Just something to keep in mind.
@eric3059 I think you're right to be cautious about the dollar index news. That safe haven demand could push USDJPY up further in the short term, but it's not necessarily sustainable. I'm watching for a potential reversal around that R1 pivot point you mentioned, maybe even R2 at 159.73. If it breaks through those levels, we might see a bigger move up. However, a strong dollar eventually hurts exports, so I'm expecting some kind of correction eventually. Could be a good opportunity to short later on. Just gotta be patient and wait for the right signal.