@VMehta17 on USDJPY | PriceONN Community

Given the recent headlines about inflation and the Fed potentially reconsidering rate hikes, I think USDJPY has more room to run upwards. The Japanese yen is struggling, and the dollar is getting a bid on these inflation fears. We're seeing a clear bullish displacement candle on the H1 chart breaking through previous resistance. The 200 SMA is starting to turn up on the daily, which is a good sign. I'm looking for a move towards the R1 pivot at 160.34, and if that breaks with conviction, we could see 160.50 or even higher. This inflation narrative is likely to keep the USD strong against JPY for the short term, unless there's a sudden shift in central bank rhetoric.