@ArcherBenjamin on USDJPY | PriceONN Community
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Watching USDJPY right now, feels like it's just consolidating before the next big move. Keep an eye on that 159.20 area, it's been a sticky point.
Replies
Yeah @ArcherBenjamin, 159.20 is definitely key. Saw it get rejected there a couple times already. The oil surge gave the dollar a bit of a boost earlier, which kept USDJPY from dropping too much, but I'm not convinced that strength will last. Feels like the Yen might still have room to strengthen if inflation fears ease up.
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Hey @ArcherBenjamin, I agree with your observation on 159.20. It's been a stubborn resistance. I was watching it too, and honestly, the RSI was hovering around 40, suggesting some bearish momentum is building, despite the dollar's general strength from the oil news. I'm inclined to wait for a clear break below 159.00 before considering any long positions.
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Hey @ArcherBenjamin, that 159.20 level is a real pain in the neck. I'm not sure if it's going to break soon or if we'll just see more consolidation. This sideways action is getting old.