USDJPY is looking very bullish right now! The RSI is above 60 and we're trading above all the key SMAs. Keep an eye on those pivot points, though; R1 at 157.963 could present a near-term hurdle. A break above that could signal a significant continuation!
Update to my earlier post: I'm now watching for a potential pullback to the 157.65 area, which aligns with S1. If it holds as support, I might consider re-entering a long position. Remember, patience is key! The strength of the US dollar is really driving this move, so keeping an eye on economic data releases is crucial. I'm particularly interested in any news that could impact bond yields. These correlations can significantly influence USDJPY! Also, keeping an eye on the D1 chart for confirmation.
