@michelle9653 on USDJPY | PriceONN Community

Hey @michelle9653, good points about the USDJPY consolidation near that R1 pivot. I've been watching it too, and with RSI hitting 70.6, it does feel a bit overbought for a strong push higher right now. The news about oil prices and inflation is definitely adding some volatility to the dollar's strength, which is probably keeping this pair from making a decisive move. I'm a bit concerned about intervention fears if it pushes much past 160, as mentioned in one of the headlines. I'm personally leaning towards a bit of a pullback or at least a sideways chop until we get clearer signals from the Fed/BoJ meetings. Might be worth keeping an eye on S1 around 159.30 for a potential entry if it dips, but I'm not jumping in with both feet until we see some displacement. What do you think about the intervention risk?