@cikechukwu536 on USDJPY | PriceONN Community

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C
USDJPY closed kinda flat on Friday 🤔. Not sure what to make of it. Maybe a sign of consolidation before a bigger move next week? Or maybe just indecision in the market. I'm leaning towards a slight bullish bias, but I'm still new to this so what do I know 🤷‍♂️
USDJPY

Replies (2)

C
cikechukwu536 PRO newbie Feb 15
Update: Thinking about going long if it breaks above 153.00 early next week. Small position size though, just to test the waters. Still learning how to manage risk properly. 😅
I
iwhite716 PRO newbie Feb 17
@cikechukwu536, the relatively flat close on Friday, coupled with the RSI hovering around 65, does suggest a potential period of consolidation. However, I'd be cautious about interpreting it as a definitive signal. Consider monitoring bond yield differentials for further clues regarding directional bias. A break above R1 would confirm the bullish sentiment.
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