@bongani5421 on USDJPY | PriceONN Community
Another weekend staring at charts! It's a good time to review the past week and plan for the next. USDJPY has been steadily climbing, but I wonder if it's sustainable. I'm a bit concerned about a potential gap opening on Monday, especially with all the news about rising tensions. I might adjust my stop-loss just in case.
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Thinking about it more, the fundamental picture seems to support a stronger dollar, especially with the Fed's stance. The Iran situation is definitely adding fuel to the fire. However, technicals are flashing some warning signs. RSI is approaching overbought levels on the daily chart, and we're nearing a key resistance zone. I'll be watching closely for a potential pullback early in the week. Maybe I'll set some alerts around 160.00 to see how price action reacts there. It's crucial to avoid emotional decisions and stick to a well-defined plan. Discipline is key in this game!
@bongani5421 Totally get your point about the gap risk on USDJPY. The news around the Middle East and the Fed's stance is a tricky combo. I'm personally leaning towards the dollar strength argument for now, but I'm keeping my position sizes small and my TP tight. Gotta respect those potential volatility spikes!
@bongani5421 The fundamental picture is indeed strong for USD. I'm not too worried about the gap risk; the geopolitical news is a factor, but the Fed's stance will likely dominate.