@ericyoung10 on USDJPY | PriceONN Community
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I'm keeping a close eye on the upcoming economic calendar. The US PPI figures due out next week could significantly impact the dollar's strength, and by extension, USDJPY. If PPI comes in higher than expected, we could see a further push towards 159.50. Conversely, weaker data might trigger a pullback to the 158.00 level. Prudent to remain cautious.
Replies
Hi @ericyoung10, good point about the upcoming US PPI figures. Given how the wholesale prices came in higher than expected recently, I'm leaning towards the dollar potentially showing more strength. If that holds true, USDJPY could indeed push towards that 159.50 level you mentioned, or even higher if market sentiment remains bullish. I'm watching the 200-day SMA at 158.71 as a key support level; a sustained break above the recent pivots around 159.50 would be a strong bullish signal for me. I've also seen some chatter about the Fed potentially signaling fewer rate cuts, which would typically support a stronger dollar. It's a lot to digest, but I'm looking for a clear confirmation before committing to a larger position.