@LBaker84 on USDJPY | PriceONN Community

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L
Weekly close analysis suggests USDJPY is consolidating near the 50-day SMA. The neutral RSI doesn't offer a clear directional bias. I'll be watching for a break of either the S1 or R1 pivots next week to confirm a short-term trend. Risk management is paramount given current global uncertainties.
USDJPY

Replies (1)

L
LBaker84 PRO newbie Mar 1
Update: Considering the news regarding potential geopolitical escalation, a long position on JPY could be a hedge against risk-off sentiment. The initial market reaction Monday will be key. I'm planning to monitor price action closely for signs of safe-haven flows. A gap up on Monday could invalidate the consolidation pattern, potentially leading to a retest of higher resistance levels. However, I'll be keeping a very tight stop loss in place, given the high level of uncertainty and potential for whipsaws. The 200 SMA is still a key level to watch overall.
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