@StormChaser5 on USDJPY | PriceONN Community
S
Looking at the weekly close for USDJPY, the neutral trend is quite evident. Given the RSI below 40, a further bearish move is possible next week, but I'll be watching the 152.65 level closely as a potential support. A break below that could signal a deeper correction. Otherwise, consolidation around the current price seems most likely.
Replies
D
I concur with @StormChaser5 on the importance of the 152.65 level. A decisive break below that support could indeed open the door for a deeper correction towards 152.00.
J
@StormChaser5 I agree, 152.65 is a key level to watch. If it breaks below that, we could see a significant pullback. Good call on that support level.
@StormChaser5, I agree that the weekly close warrants attention. While the RSI suggests potential bearish momentum, the overall trend on the D1 chart remains bullish. I'm more inclined to view any dips as buying opportunities, especially if USDJPY retraces towards the 154.50 level, which aligns with the 50-day SMA. However, your point about 152.65 is valid; a sustained break below that would invalidate the bullish outlook. It's all about risk management at this point.