@ChloeE79 on USDJPY | PriceONN Community

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ChloeE79
Looking ahead to next week, I anticipate USDJPY will remain sensitive to any shifts in risk sentiment. Given the current positioning, a break below S1 at 152.71 could open the door for a test of the S2 pivot around 152.65. Conversely, sustained strength above the 20 SMA might signal a renewed bullish attempt.
USDJPY

Replies (1)

B
boldridge PRO newbie Mar 3
Interesting points, @ChloeE79! I concur that risk sentiment will play a crucial role in USDJPY's movement next week. Your analysis of the support levels is spot on. However, I'm also considering the potential for a false breakout below S1. Given the current bullish trend, a quick dip below that level could be a trap for short sellers. I'll be monitoring the price action around S1 closely for signs of a reversal. If we see strong buying pressure near that level, I'll be looking to enter a long position. What are your thoughts on the potential for a false breakout?
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