@GeorgeMurphy on USDJPY | PriceONN Community

Continuing my thought from earlier, the fact that the Bank of Canada held rates didn't really move the needle much for USDJPY, which is telling. It suggests that the primary drivers remain US economic data and Fed policy expectations. The wholesale prices are particularly sticky, and if that translates into a more hawkish tone from the Fed in their next statements, we could see USDJPY push higher. I'm watching that R1 pivot at 159.524 closely. If we can break and hold above it, I might consider a small swing long, targeting that R2 level. However, if we reject it hard, it might be time to consider a short position, anticipating a move back towards the 159.00 area. It's a bit of a gamble either way, but that's the fun of trading, right? Always a new puzzle to solve.