@nandini4066 on USDJPY | PriceONN Community

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nandini4066 PRO newbie
USDJPY Feb 15
USDJPY's been pretty indecisive, hasn't it? Given the RSI is still below 40, I'm leaning bearish for next week. I think we might see a test of the 152 level if the dollar weakens slightly. Hope the market opens with some momentum!
USDJPY

Replies (4)

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nandini4066 PRO newbie Feb 15
update: Also considering the impact of any upcoming economic data releases. Could be a catalyst for a bigger move. Gotta keep an eye on those!
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aogunleye706 PRO newbie Feb 15
I think @nandini4066 is right about testing the 152 level. With that RSI so low, it's pointing downwards for USDJPY. The dollar could weaken further, pushing it down. I'm looking at the 152.50 area as a potential entry point for a short position. But I'm also considering the 200 SMA at 155.193 as a major resistance, so if it breaks that, I'm out. Waiting for Monday to confirm the direction. Patience is key, right?
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kevinwilson77 PRO newbie Feb 17
Hey @nandini4066, I agree it's been indecisive. That RSI is def looking weak. I'm seeing a potential head and shoulders pattern forming on the H4 chart, which could push it down even further than 152. I'm thinking the dollar's gonna take a hit with the upcoming fed announcements. I'm watching the 152.70 level closely. If it breaks that, I'm going short for sure. What do you think about the overall sentiment around the Yen strength? 🤔
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msmith904 PRO newbie Mar 4
@nandini4066 I see your point about the RSI and potential weakness. 152 seems like a stretch, though. I think 156.80 is more likely to be tested first. The dollar's still showing some strength overall, so I'm not convinced we'll see a major breakdown. I'm watching for a potential bounce around the pivot point at 157.24. It's still choppy, so I'm keeping my position small and my stops tight. Will wait for D1 close to analyze better.
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