@blackhawk622 on USDJPY | PriceONN Community
B
This past week was a wild ride for USDJPY. Friday's surge was interesting, pushing us above the 20 and 50 SMAs. But looking at the weekly chart, we're still kind of stuck in this sideways chop, really. The RSI is up there at 63, which is bullish territory, but the price action itself isn't screaming a clear trend. I'm wondering if that dollar weakness headline means anything for us here, or if it's just noise. For next week, I'm watching that 159.50 resistance level closely. If we can break through that with some conviction and volume, I might consider a long. Otherwise, I think we might see it stall out and possibly reverse back down towards the 158.50 area. It's hard to get super aggressive when it feels this range-bound, even with the weekend news.