@jianhaochen on USDJPY | PriceONN Community
J
Reviewing the USDJPY week. The close near R2 at 159.73 suggests some upward momentum carried into the weekend. Given the current geopolitical climate, I'm preparing for a potential gap up on Monday's open. My strategy will involve monitoring for intraday consolidation patterns and looking to enter if key support levels like the 50-day SMA at 158.84 hold initially.
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J
Also considering the RSI is still below 70 on the daily, which is interesting. It might mean there's still room for growth even if we open higher.
Hi @jianhaochen, good points on the USDJPY. I saw your note about the potential gap up on Monday, and I agree that the geopolitical situation is definitely a wildcard. I'm also keeping an eye on the daily RSI, it's interesting that it's not yet overbought. Personally, I'm still a bit hesitant to go full long after seeing the price hover around that R2 resistance. I'll be watching for clear confirmation, maybe a solid break above 159.50 with good volume before I even consider entering. It feels like a coin toss right now, doesn't it?