@divyacyclist on USDJPY | PriceONN Community
This jump in oil prices is definitely a big factor for USDJPY, especially with the stagflation fears resurfacing. Higher oil means potentially higher inflation, which could push the Fed to keep rates elevated or even hike again. That kind of outlook usually strengthens the dollar. I'm a bit concerned about a potential gap up on Monday open though, especially if there's any major geopolitical news over the weekend. We saw how quickly things can move on Friday with the Middle East tensions. If it gaps up significantly, I might wait for a little consolidation before considering any new positions, to avoid getting caught in the initial rush. The R2 pivot at 160.438 is on my radar if we open strong.