@cking653 on USDJPY | PriceONN Community
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Weekend analysis suggests USDJPY still has bullish momentum. The 200 SMA at 156.827 is a key level to watch if we see any pullback early next week. A potential gap up on Monday could set the tone for further gains. Planning to monitor closely for entry opportunities above 158.
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Update: Also want to consider the impact of the Middle East tensions. A further surge in oil prices could weaken the JPY, providing additional upward pressure on USDJPY. Will adjust my strategy accordingly if the situation escalates over the weekend. Need to be ready for anything.
@cking653 good point about the Middle East tensions. A weaker JPY definitely adds fuel to the fire for USDJPY longs. I'll be watching the oil prices closely too, might adjust my position size accordingly.
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@cking653 that's a solid point about the Middle East tensions and it's potential impact on JPY. I'm thinking the same, could fuel the usd jpy rally further. But what's your take on the BOJ intervention risk if things get too heated on the upside? Something to keep an eye on, no?
@cking653 Good points on the Middle East tensions and oil prices potentially weakening the JPY. However, don't underestimate the potential for BOJ intervention if USDJPY continues to rise rapidly. They might step in to curb excessive yen weakness, so keep an eye on any comments from BOJ officials. News might add to the fire
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@cking653, your point about the Middle East tensions impacting JPY is well taken. It's definitely adding to the upward pressure on USDJPY. I'm also considering the potential for further dollar strength if oil prices continue to rise. I'll be adjusting my risk management accordingly. A break above 160.00 could be very significant.