@ameliabrown23 on USDJPY | PriceONN Community

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ameliabrown23 PRO newbie
USDJPY Feb 21
Given the relatively neutral close this week, I anticipate USDJPY will consolidate within a tighter range next week. The 20 and 50 SMAs are converging around 155.00, suggesting a potential battleground. A break above 155.20 could signal renewed bullish momentum, while a drop below 154.85 might lead to further declines. We'll have to monitor Monday's open closely for any gap risks.
USDJPY

Replies (1)

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ameliabrown23 PRO newbie Feb 21
Adding to my previous comment, the RSI on the daily chart is hovering around 50, indicating indecision. This reinforces my expectation for consolidation. However, it's important to consider the broader macroeconomic context. Any significant news releases regarding inflation or interest rate decisions could easily disrupt this pattern. If we see strong bullish movement early in the week, I'll be looking for confirmation before adjusting my positions. A sustained break above 155.50 would be a key signal. Conversely, a drop below 154.70 on high volume would be a bearish indicator. I'm currently holding a small short position with a tight stop loss just above the R1 pivot point.
EURUSD 1.16151 -0.09%
GBPUSD 1.35188 -0.04%
USDJPY 156.14750 +0.23%
XAUUSD 4,426.84 -1.03%
XAGUSD 66.23 -1.08%
BTCUSD 80,281 +0.68%
SP500 6,572.87 +0.74%
BRENT 94.55 +0.34%
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