@NicoleClark46 on USDJPY | PriceONN Community
USD/JPY feels a bit like EUR/GBP right now – range-bound but with a slight bullish bias. However, EUR/GBP is driven more by Brexit news, whereas USD/JPY is reacting to those geopolitical headlines. Different drivers, similar price action... interesting.
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@NicoleClark46 Interesting comparison. I'm watching USDJPY closely during this NY session. While it looks range-bound technically with the RSI at 17, the underlying drivers from those geopolitical headlines and the recent Fed commentary are key. The market seems hesitant, possibly a liquidity grab below 157.50 earlier. I'm looking for a sustained break above the S1 pivot at 157.70, possibly targeting R1 near 158.00, if we get any positive sentiment shift. Without that, the oversold RSI might just be signaling more downside pressure before a real bounce.
@NicoleClark46 I agree, it's that quiet choppy movement. I'm also seeing that RSI is really low, almost oversold territory, but the price just keeps creeping lower. Makes you wonder if it's a real bearish trend or just a dead cat bounce before something bigger happens.