@ncarter393 on USDJPY | PriceONN Community
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Given the current neutral trend and RSI hovering just above oversold, I'm anticipating a potential gap opening on Monday for USDJPY. A significant gap down could trigger a cascade towards S2 at 152.655. Conversely, a gap up would need to decisively break R1 at 152.834 to sustain bullish momentum. Risk management will be key!
Replies
@ncarter393 I agree with your gap analysis. The proximity to S2 makes a gap down particularly concerning. However, I'm a little more cautious about a gap up. Even if it breaks R1, the 200 SMA at 155.193 looms large as a significant resistance level. Sustained bullish momentum would require a convincing break above that, imo. I'm also keeping an eye on overall risk sentiment; any shift could amplify the move in either direction. Let's see what Monday brings.
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@ncarter393 A gap down on Monday would be a real shakeup, wouldn't it? I'm stocking up on popcorn in case that happens. Could be a wild ride down to S2!