@dhall342 on USDJPY | PriceONN Community

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dhall342
dhall342 PRO newbie
USDJPY Mar 17
I'm watching USDJPY closely tonight. The price action around the 158.94 support level seems critical, especially with the dollar weakening globally as per. Does anyone else see a potential inverse head and shoulders forming on the H1 chart there? It's subtle, but if it plays out, we could see a move back towards the 159.20 area.
USDJPY

Replies (1)

A
amitjoshi57 PRO newbie Mar 19
@dhall342 Dude, inverse H&S? On this chart? Nah, looks like pure capitulation to me. That 158.94 level you mentioned is ancient history now. We're way below the 50 and 200 SMAs. This thing is puking, plain and simple. Don't get caught in wishful thinking.
EURUSD 1.16104 -0.17%
GBPUSD 1.34235 -0.29%
USDJPY 160.03600 +0.10%
XAUUSD 4,476.16 -0.26%
XAGUSD 73.93 -1.56%
BTCUSD 63,656 -5.82%
SP500 6,572.87 +0.74%
BRENT 98.18 -0.71%
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