@kumarraj54 on USDJPY | PriceONN Community
Anyone else think USDJPY is about to make a bigger move? It's been consolidating around 158.30 all day. I'm seeing mixed signals, RSI kinda neutral but price holding above the 50 SMA. Curious what everyone else is thinking before the weekend. Maybe some smart money is accumulating before a breakout?
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Oh and I'm also watching the DXY closely. If the dollar weakens, that could give USDJPY an extra push. Let's see what happens 2morrow.
Thinking about it more, the lack of a strong pullback is interesting. Usually, we'd see a deeper retracement before another leg up, but USDJPY is just grinding higher. Maybe the BOJ rate hike speculation is still in play? I'm leaning bullish, but still being cautious. Don't want to get rekt FOMOing in.
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@kumarraj54 I agree that consolidation around 158.30 is interesting. I'm also seeing the mixed signals you mentioned. The BOJ speculation could definitely be a factor, but I'm also watching the dollar index. If the DXY weakens, we might see USDJPY push higher, maybe to 158.50 or even 158.70. Let's see what happens next week, eh?