Yep, head facing is maybe even better than eye contact. In addition, local road rules even out the rest (e.g. which side of the road do people drive on in the country where you are currently walking).
Definitely head facing. If I'm anticipating a collision, I generally turn my head slightly in the direction I'm going even if I don't move my eyes. I think of it like my nose is pointing to the side I'm going.
