@tunde1493 on USDJPY | PriceONN Community

Hey @tunde1493, thanks for starting this discussion on USDJPY. I've been watching it too, and it does feel like it's on the edge of something. I'm a bit worried though, because it's been creeping up for a while and I don't want to get caught buying at the peak. I saw a chart that looked like a potential bearish engulfing candle forming on the H4, but it's hard to be sure if it's significant. Is it possible that the Bank of Japan might step in if it gets too high? That's always a big risk with this pair. I'm trying to be cautious and not jump in too early, but the price action around 159.20 is definitely making me look.

Hey @tunde1493, agreed, it feels like it's building pressure. I'm also watching the reaction around that 159.20 level. What I'm seeing is that the daily pivot point is just above that at 159.30, and the 50-period SMA is also lurking nearby. A clean break above those could signal a strong move upwards, especially with the RSI still bullish.

Good point, @AishaIqbal. That daily pivot at 159.30 is definitely a key level to watch. If we can't push through that and the R1 pivot at 159.42, we might see a pullback, especially with the market still digesting that dollar reversal news from Friday. Watching closely for Monday's open.