@ShadowFax89 on USDJPY | PriceONN Community

Further to my earlier points, I've been looking at the RSI on the H4 timeframe for USDJPY. It was hovering around 63.5 at Friday's close, indicating some bullish momentum, but it's not yet in overbought territory. My primary concern remains the 159.50 area, which has acted as resistance previously. If we see a strong push above that level early next week, especially with increased volume, I might consider a long position. However, if it fails to break through and turns lower, the pivot point at 159.30 could become a short-term target. The recent news about potential dollar strength due to geopolitical events is a factor, but I'm waiting for price action to confirm any direction. It's all about confluence of indicators and levels for me.

Continuing my thought from the previous post, I'm particularly mindful of any potential gap opening on Monday. The market's been relatively range-bound, but significant news or central bank commentary over the weekend could easily shift sentiment and create a gap. It's prudent to consider managing existing positions or holding off on new entries until the initial Monday reaction plays out.