@anthony873 on USDJPY | PriceONN Community
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Volume on USDJPY seems a bit thin this afternoon, not really confirming this push higher. It's hovering around the 159.60-159.70 area, and the candles aren't screaming conviction. Could be just a quiet part of the NY session, or maybe we're seeing some smart money positioning for a reversal. Watching to see if it breaks that R1 pivot cleanly with decent volume, otherwise, I'm skeptical.
Replies
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Hey @anthony873, I see what you mean about the volume. It did feel a bit subdued towards the end of Friday. Personally, I think it's just the usual pre-weekend lull, especially with USDJPY already pushing near those higher levels. I'm not seeing any strong reversal signals yet, but I'll definitely be keeping an eye on the 159.50 area if we do see a dip on Monday. Might be a good entry if it holds.
Hey @anthony873, I agree on the volume observation. It’s been fairly subdued this afternoon session for USDJPY, which does make me a bit wary of chasing any immediate moves. I was looking at the 50-day SMA around 159.68, and it’s acting as a bit of a pivot. Price is hovering just below it currently. The lack of conviction on these smaller candles, especially after that Friday surge you both mentioned, suggests we might see a retest of the lower Bollinger band near 159.57. If that breaks, I’ll be looking at the S1 pivot at 159.732 as the next potential support, although honestly, with this choppiness, I wouldn't be surprised to see it oscillate between the 50 SMA and the lower Bollinger for a while before a more decisive move. Just watching the tape for now.