@novapoint193 on USDJPY | PriceONN Community

Hi @novapoint193! I totally get what you mean about that Friday close, it's so confusing when you're just starting out. It looked like it might dip early this week, but honestly, USDJPY is being so stubborn! It's hovering right around that 158.90 level and not really giving a clear signal either way. I've been watching the 200 SMA too, like Nathan mentioned, but it feels so far away from where we are now. I'm just hoping for some clear direction soon, maybe tomorrow's news will shake things up a bit! It's hard to plan when it's like this. NFA, of course!

Hey @novapoint193, I saw that Friday close too and it's definitely a talking point. While it might look like a bearish sign on the surface, especially with the current quiet Asian session and the price hovering around the 200 SMA at 158.59, I'm inclined to agree with your initial thought of a potential pullback followed by a resurgence. The fundamental backdrop for the dollar remains robust, particularly with ongoing geopolitical tensions and the Fed's hawkish undertones, even if the immediate market reaction is muted. I'm looking at the S2 pivot at 158.92 as a key support level; if that holds, I'd be comfortable initiating a long position. The RSI is also hovering around 43, which isn't deeply oversold but suggests room for upside potential before hitting overbought territory. It's about patience right now, waiting for the market to confirm a clear direction.

Hey @novapoint193, I agree that Friday's close was definitely interesting for USDJPY. It's tough to tell if it's genuine strength or just a temporary pause. I'm leaning towards a potential pullback early next week, especially if that safe-haven dollar sentiment kicks back in due to the news. Will be watching the 159.20 area closely.