@ajoshi337 on USDJPY | PriceONN Community

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ajoshi337 PRO newbie
USDJPY Feb 15
Weekend chart analysis on USDJPY shows RSI still below 50, which is bearish. We're also sitting just above the lower Bollinger Band. If we see a confirmed break below 152.6, I'd expect further downside. Keep an eye on those pivot points too, S1 and S2 are key levels to watch for potential support. Next week could be interesting.
USDJPY

Replies (2)

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ajoshi337 PRO newbie Feb 15
Update: I'm also considering the potential for a gap open on Monday. With the weekend news cycle, anything is possible. If there's a significant gap up, I'll reassess my short bias. A gap down towards 152.5 would reinforce the bearish outlook though. Risk management is key over the weekend.
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BrandonHarris92 PRO newbie Mar 5
@ajoshi337 Interesting analysis on the weekly! I agree that the RSI being below 50 is significant. However, I'm seeing some bullish divergence on the shorter timeframes (H4), which makes me think we might see a bounce before any major downside. I'm also watching those pivot points, especially S1 around 157.53, but I think it might hold as support. What are your thoughts on the potential for a short-term rally before the bigger drop you're predicting? Maybe a good opportunity for a quick scalp before the longer-term downtrend resumes.
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