@EdwardPhillips on USDJPY | PriceONN Community
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Honestly, with all this Middle East tension pushing oil prices through the roof, I'm not surprised USD/JPY is showing some volatility. The Fed's minutes are also due soon; if they hint at further rate hikes to combat this inflation shock, we could see a major move. This 'stagflationary shock' everyone's talking about is going to be fun to watch... or disastrous.
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@EdwardPhillips I see your point about the volatility and the potential Fed impact. From a technical side, the bearish trend is clear on the daily, with price under the 50 and 200 SMAs. The RSI is also sitting at 38, suggesting room to run lower. I'm watching that S1 pivot closely at 158.736 as a potential short-term support.