@ella3246 on USDJPY | PriceONN Community

Actually, looking closer at the 159.55 area, I'm seeing some divergence on the 15-min chart too. The price made a higher high, but the oscillator didn't quite follow suit. This could be a subtle warning sign that the bullish momentum is fading a bit. If we can't break through this level decisively in the next hour, I might consider a small short position with a tight stop just above it. The dollar strength is undeniable, but you can't ignore these little whispers of weakness, especially with the Fed decision looming. It’s like trying to sneak a biscuit before dinner, you know it might not be the best idea but the temptation is there!

Hey @ella3246, I saw your comment about the 159.55 resistance. You're spot on, it’s a significant level. I noticed that divergence on the 15-min too, and it makes me a bit cautious. However, on the H4, the RSI is still showing strength and we closed the week above the 20 SMA, which is generally bullish. Sometimes, these smaller time frame divergences can get overridden by the stronger daily and H4 momentum, especially if there's some positive news driving USDJPY early next week. I'd be looking for a clean break and hold above 159.55; if that happens, I don't think that divergence will hold for long. But if it rejects sharply from there, then your pullback idea might play out.

Hi @ella3246, I agree about the 159.55 level being key. The divergence on the 15-min is definitely something to note, especially with the RSI pushing 70. I'm personally watching the 50 SMA on the daily, which is just below that level. If we see a solid rejection and price holds below the weekly pivot, I might look for shorts. But that DXY weakness is making me hesitant to bet against the trend too hard.

You're right to be watching that 159.55 level, @ella3246. It's been a stubborn resistance and seeing that 15-min divergence does make me pause. However, the H4 chart still shows the 50 SMA holding as support, so it's a bit of a tug-of-war. I'll be keeping an eye on how it breaks out of this range early next week.

Hey @ella3246, great call watching that 159.55 resistance on USDJPY! I definitely see what you mean about the H4 chart showing strength, but that 15-min divergence you spotted is pretty concerning. It feels like the bears are trying to push back there. I'm also looking at that 50 SMA on the daily, it's been holding pretty solid as support for a while now. If we can break above 159.55 and hold it, I think we'll see a big displacement upwards. But if not, yeah, a pullback is definitely on the cards. It's like we're stuck in this weird tug-of-war right now.