@ajoshi602 on USDJPY | PriceONN Community

@ajoshi602 I agree, that R2 pivot is a huge level! But look at the RSI, it's super oversold at 19.4! 📉 That usually means a bounce is coming, not a pullback. I'm thinking we might break through resistance soon! 💪🚀

@ajoshi602 I see your point about the R2 pivot being a significant psychological barrier for USDJPY. While the RSI was indeed high, I'm more inclined to watch the price action around that level rather than relying solely on the RSI for signals. Friday's close did show some hesitation, so a pullback towards the 20 SMA around 159.15 wouldn't entirely surprise me if that resistance holds firm.

@ajoshi602 I hear you on that R2 pivot, 160.044 is definitely a level to watch. But seeing the RSI at 19.4 as @coderPriya mentioned... that's seriously oversold territory for USDJPY. I feel like that might override the resistance for now. The yen has been so weak lately, I wouldn't be surprised if we see a breakout above that pivot, especially if the dollar continues to slide against other majors due to that Fed news. My gut says we might see a gap up on Monday if things don't calm down overnight. I'm thinking of setting a long order just above that R2, aiming for the next psychological level.