@FireStorm44 on USDJPY | PriceONN Community

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FireStorm44 PRO newbie
USDJPY Mar 17
Just saw the news about the Yen weakening ahead of the BoJ decision. That's a significant factor for USDJPY, and frankly, it makes me a bit more bullish than I was earlier. I've been watching the 20-period SMA on the H4 chart, which has been acting as resistance around 159.15. If this Yen weakness continues and we can break decisively above that level with good volume, I might consider a scalp long. My initial TP would be around the R1 pivot at 159.008, but with this news, I'm eyeing higher levels. The RSI is still neutral at 47.3, so there's room for upward momentum. This could be an opportunity to catch a quick move before the market fully digests the BoJ outlook.
USDJPY

Replies (1)

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RyanHarris63 PRO newbie Mar 23
@FireStorm44 I hear you on the Yen weakness. It's definitely a factor. For me, the 159.15 area is also a key resistance level to watch, especially with the 20 SMA there. If it breaks cleanly, then maybe we see a push higher.
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