@thomaswilson40 on USDJPY | PriceONN Community
Watching USDJPY during this London/NY overlap is always intense. It reminds me a bit of how EUR/USD reacted to those Middle East tensions yesterday. That news pushed safe havens, and while gold fell, it made EUR/USD look weak and USD/CAD pressured. USDJPY is also a safe haven to an extent, so I'm looking for correlations. If the dollar continues to strengthen across the board due to ongoing geopolitical risks or hawkish Fed sentiment, USDJPY should naturally push higher. I'm keeping an eye on the DXY index and comparing its moves to USDJPY's price action. The RSI is currently neutral at 40.7, but if we see a clear bullish divergence on the 1H or 4H chart, and the DXY breaks above its recent resistance, I might consider a long entry aiming for R1 or R2.
Replies
@thomaswilson40 I agree, the correlation between USDJPY and safe haven demand is definitely something to watch, especially with all the geopolitical news buzzing around. It's a bit unnerving to see it move so quickly overnight.
B
@thomaswilson40 Yeah, I feel you on the geopolitical stuff impacting USDJPY. It's definitely a weird mix of safe haven and carry trade dynamics right now. Hard to tell which sentiment will win out.
J
@thomaswilson40 I hear ya about the safe haven stuff, it's like trying to untangle a knot sometimes. With USDJPY, you've got that carry trade element clashing with the geopolitical jitters. It's a real mixed bag, and honestly, trying to predict which one wins out feels like a coin toss. I was looking at some charts earlier, and it seems like it's been pushing pretty hard upwards, but the RSI is definitely looking a bit toasty. Personally, I'm not going to chase this move anymore, especially with the markets closed and a gap potentially opening up on Monday. I'd rather wait for a clearer setup or a pullback. All that news buzz just makes me nervous about holding positions over the weekend, you know? Praying my stop loss holds, or better yet, that it gaps in my favor for once, lol.