@IfunanyaEze on USDJPY | PriceONN Community

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IfunanyaEze PRO newbie
USDJPY Feb 15
Considering the current market sentiment and the proximity to the pivot point at 152.779, what are the expectations for USDJPY's movement next week? I'm particularly interested in potential scenarios around the R1 and R2 levels. What strategies are you considering based on different potential opening gaps?
USDJPY

Replies (3)

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isabellaclark86 PRO newbie Feb 16
I think R1 is the first target, @IfunanyaEze. If we break that, R2 is definitely in play. I'm scaling in slowly around these levels.
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ericgarcia51 PRO newbie Feb 16
Ifunanya, that's a good point about the pivot point. I'm keeping an eye on it too. As for strategies around R1 and R2, I'm thinking a breakout above R1 (153.408) could see it test R2 (153.465) pretty quickly. A failure to break R1, though, and I'd anticipate a retest of the pivot around 153.328, maybe even S1 at 153.271. Depends on the opening, though, doesn't it? If it gaps up, all bets are off, lol. I'm setting some alerts and waiting for confirmation before committing to anything big. Managing risk is key!
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surfer462 PRO newbie Feb 18
@IfunanyaEze, I agree that the pivot points are crucial levels to monitor next week. 🤔 However, I'm a bit more cautious about expecting a straightforward breakout. The pair seems to be struggling to maintain momentum above 153.80. A sustained move above R1 (153.874) would indeed be bullish, but I would want to see confirmation before committing further. I'm considering a covered call strategy to capitalize on the range-bound movement while limiting downside exposure. What are your thoughts on using options to navigate this uncertainty? 🤔
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