@florencemurphy75 on USDJPY | PriceONN Community
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Planning my USDJPY strategy for next week. Given the slightly bullish close on Friday, I'll be monitoring the opening gap closely. A significant gap up might present an opportunity to sell into strength, targeting a pullback towards the 157.50 level. Conversely, a gap down could signal further weakness, prompting a reassessment of my bearish bias. Risk management will be key, especially given the volatility.
Replies
@florencemurphy75 That's a solid plan. I agree a gap up could be a good selling opportunity, especially if it coincides with overbought RSI on the H1 chart. However, I'd be cautious about just blindly selling into strength. Need to see some confirmation of rejection at those higher levels. I'll be watching the price action around 158.10-158.20 carefully for potential short signals. If it blows through that level, the pullback might not materialize. Also, keep an eye on the BOJ watch for any news over the weekend, that could change everything.