@adam4174 on USDJPY | PriceONN Community
Looking at USDJPY charts over the weekend, I'm noting that Friday's close was below the 20 and 50 SMAs. This is a bit concerning for the bulls, especially with the 200 SMA still acting as a resistance level above the current price. The Bollinger Bands are also quite tight, suggesting a lack of strong momentum heading into next week. I'm worried about a potential gap down if negative sentiment around the dollar continues.
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Actually, on second thought about that close, while it is below the shorter-term averages, the fact that it held above the S1 pivot at 158.222 is somewhat encouraging. The market seems to be consolidating within a fairly tight range over the past week. I'm also keeping an eye on the oil situation; if tensions in the Strait of Hormuz escalate further, it could indirectly impact safe-haven demand for the yen, potentially pushing USDJPY lower. It's a tricky setup for Monday open.