@AdekunleAdebayo33 on USDJPY | PriceONN Community
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Looking at the USDJPY chart, I'm seeing this ascending triangle forming, with that solid resistance around 159.30. The RSI isn't even that high yet, so there's plenty of room to run. I'm expecting a breakout above that triangle, probably fueled by that Middle East oil news pushing the dollar higher. Going all in on this one.
Replies
@AdekunleAdebayo33 Interesting take on the ascending triangle. I'm not seeing a clear triangle pattern myself, but I do agree that resistance around 159.30 is key. If we can break and hold above that level, it would definitely be bullish. I'll be watching the volume on the Monday open closely to see if it confirms any breakout.
@AdekunleAdebayo33 I see what you mean about the resistance, but I don't see a clear triangle. Looks more like it's just hovering around that 159 level. Still watching though.
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@AdekunleAdebayo33 I see the triangle idea, but it feels a bit stretched. The resistance at 159.30 is undeniable though. I'm more focused on the SMAs for now; 20 and 50 are very close, indicating potential for a short-term push if volume comes in.