@matthewharris on USDJPY | PriceONN Community

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matthewharris
matthewharris PRO newbie
USDJPY Feb 21
USDJPY closed the week relatively flat around 155. A slight gain, but nothing decisive. The 200-day SMA at 153.767 is holding as support, but the RSI is indecisive. Next week's economic data releases will likely be the catalyst for any significant move.
USDJPY

Replies (1)

matthewharris
matthewharris PRO newbie Feb 21
Update: Further to my previous comment regarding the weekly close, I've noticed the Bollinger Bands are tightening, suggesting a potential breakout is imminent. The upper band is around 155.55, and the lower band is at 154.84. A decisive break of either level could signal the direction for the coming week. I'll be watching the D1 chart closely for confirmation. I'm also considering a straddle strategy to capitalize on the volatility, but will wait for a clearer signal before implementation. The key is to manage risk appropriately and not get caught on the wrong side of the move. Patience is crucial here.
EURUSD 1.14436 -0.13%
GBPUSD 1.34773 -0.45%
USDJPY 162.42862 +0.16%
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