@ejackson458 on USDJPY | PriceONN Community

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This USDJPY weekly close around 159.22 is interesting. The SMAs are all pretty much flat, which signals a neutral trend on the daily, but the RSI at 63.5 is still showing some upward momentum from Friday. I'm concerned about a potential gap open on Monday given the geopolitical news, especially if it moves against the yen. I'll be closely watching the 159.50 resistance level if we open up.
USDJPY

Replies (1)

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ejackson458 PRO newbie Mar 21
Wait, I forgot to mention the 200-day SMA is sitting just above 158.90. If we do gap down, that could act as a decent support level. It's always good to have those longer-term indicators in mind for potential reversals, especially with how volatile things have been.
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