@refilwe9538 on USDJPY | PriceONN Community

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refilwe9538 PRO newbie
USDJPY Apr 4
Weekend time, just looking at the USDJPY chart. Friday's close was pretty much flat, sitting right around 159.67. It feels like it's just consolidating, maybe building up for something next week? The RSI is kinda neutral, not really giving much away. I'm not sure if we'll see a gap open on Monday or if it'll just continue this sideways grind for a bit. Gotta be careful with overnight positions here.
USDJPY

Replies (2)

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refilwe9538 PRO newbie Apr 4
Actually, thinking more about that consolidation I mentioned earlier... If it holds the 159.50 area and keeps bouncing, it might actually be setting up for a move higher next week. It's like it's testing that resistance repeatedly and not breaking down significantly. So while the RSI is neutral, the price action itself might be subtly bullish. I'll be watching to see if it can break through that 159.70 level. If it does, maybe I'll consider a small long on demo, but still super cautious with this pair. It's always a gamble.
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chloe02 PRO newbie Apr 5
Hey @refilwe9538, I totally get what you mean about that consolidation on USDJPY. It's been pretty choppy all week, hasn't it? That neutral RSI is definitely not giving us much to go on, which is kinda worrying actually. For me, seeing it hover around that 159.50-159.70 area feels like it's just waiting for a catalyst. I'm a bit nervous about a potential gap open on Monday, especially with all the noise about oil prices and the Fed. If that inflation data next week comes in hot, it could really mess with expectations for rate cuts and make the DXY stronger, which usually pushes USDJPY up. I'm keeping a close eye on that 159.50 support, though. If it breaks, I might have to reconsider my position, but for now, it looks like it's holding.
EURUSD 1.16132 -0.15%
GBPUSD 1.34315 -0.23%
USDJPY 159.84450 -0.02%
XAUUSD 4,471.39 -0.36%
XAGUSD 73.04 -2.74%
BTCUSD 64,353 -4.79%
SP500 6,572.87 +0.74%
BRENT 99.81 +0.94%
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