USDJPY closed the week with a bullish bias, hovering around 157.82. The RSI remains neutral, suggesting neither overbought nor oversold conditions. Key levels to watch next week include the pivot point at 157.827 and R1 at 157.91. A break above R1 could signal further upside potential.
self_reply: Expanding on my earlier analysis, I'm also considering the 50 SMA which sits at 157.466 as a potential support level if we see a pullback early next week. I'll be monitoring price action closely around that area. Furthermore, the Bollinger Bands indicate a relatively tight range, suggesting a potential breakout is imminent. The upper band is currently around 158.04, so that will be a key level to watch for confirmation of a bullish move. If we break below the 50 SMA, I'll reassess my bullish outlook.
