@SReddy46 on USDJPY | PriceONN Community

Hey @SReddy46, I saw your comment about the USDJPY at S2. It's true that a lot of beginners look at those obvious support levels. But with the Fed talking tough and the dollar showing some resilience despite the news you mentioned, I'd be more inclined to watch the price action around the 50 SMA and the daily pivot point (P) more closely for entries today. The fact that the dollar weakened slightly last week against the backdrop of rising yields and geopolitical tension is interesting though, makes me wonder if we're seeing a bit of smart money repositioning or just short-covering before a bigger move. Keep an eye on that R1 at 159.307 – if we break above that with some conviction, then maybe we can talk about higher levels. For now, it’s a bit range-bound and choppy, typical for this time of day before London opens.