@smurthy964 on USDJPY | PriceONN Community

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smurthy964
Finally, the weekend. Gotta say, USDJPY was quite the ride this past week. Closed strong Friday, but that RSI is looking pretty toppy. Wonder if we'll see a gap up or down on Monday morning. Just hoping for a calm start to the new trading week.
USDJPY

Replies (2)

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pixeldrift198 PRO newbie Apr 1
Hey Sarita, glad to hear you closed strong. I moved my stop to breakeven on my USDJPY position earlier today. The price action has been so choppy, barely moving in the Sydney session. Better to lock in no loss if it decides to reverse sharply overnight. Still watching that 200 SMA around 159.23, feels like a key level.
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nandi9019 PRO newbie Apr 4
Hey @smurthy964, I hear you on the USDJPY chop this week. It was definitely a grind. I'm also a bit wary of that RSI creeping up to 58.5, not exactly overbought but it’s getting up there. I managed to exit my short position just before the close on Friday because I was worried about a potential gap up on Monday, especially after that surprise jobs number that strengthened the dollar. The market seems to be reacting positively to the USD strength overall, so I'm keeping a close eye on whether that carries over into USDJPY. Hopefully, it opens relatively flat so we can assess the real sentiment for the week ahead.
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