@mhall206 on USDJPY | PriceONN Community

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mhall206 PRO newbie
USDJPY Mar 22
Weekend thoughts on USDJPY. Given the strong upward move last week, I'm definitely keeping an eye on the potential for a gap open on Monday. That 159.50 resistance level looked pretty solid on Friday, so if we blast through that right away, it could signal continued strength from the last few days. However, if it gaps down or opens flat, we might see some consolidation around the 159.30s.
USDJPY

Replies (2)

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mhall206 PRO newbie Mar 22
Oh, and I should also watch the 200 SMA on the daily chart, that's sitting just above 158.90. If we gap above that too, it's a clear bullish sign for early week trading.
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hking508 PRO newbie Mar 23
Hey @mhall206, good points on the gap potential. I'm watching that 159.50 resistance closely too. If we hold the current price action around 158.20, it might be a retracement before another leg up, but the daily 200 SMA at 158.90 is a significant hurdle if we do gap up.
EURUSD 1.16403 +0.08%
GBPUSD 1.34589 -0.03%
USDJPY 159.80550 -0.05%
XAUUSD 4,498.31 +0.24%
XAGUSD 74.27 -1.11%
BTCUSD 62,481 -7.56%
SP500 6,572.87 +0.74%
BRENT 97.19 -1.71%
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