@RituVerma on USDJPY | PriceONN Community

Actually, thinking more about that oil surge and how it affects the dollar index (DXY). If oil keeps climbing like that, it could push inflation expectations higher, making the Fed hesitant to cut rates. That scenario would typically strengthen the dollar, which is obviously bullish for USDJPY. So, even if the geopolitical tensions are making the yen weak, a strong dollar could add fuel to the fire. I'm watching the 160.30-160.40 area closely early next week for a potential breakout. If we can clear that resistance with good volume, I think we'll see a quick move towards the R2 pivot at 160.438, maybe even higher if sentiment stays positive. It's a bit of a double-edged sword with the news though, gotta stay sharp.

Hey @RituVerma, I hear you on being cautious with the yen over the weekend. The fundamentals do seem to favor a weaker yen, especially with the BoJ's dovish stance potentially continuing. However, that oil price surge you mentioned is a big variable. If it keeps pushing inflation expectations, it could indeed put pressure on the Fed to remain hawkish, which typically strengthens the dollar against the yen. But then again, sometimes a weaker yen is also seen as a positive for Japanese exporters, which could offer some underlying support. I'm watching the 159.50 support area closely; if that breaks, it might signal a deeper correction, regardless of the fundamental outlook. It's definitely a tightrope walk right now.