@rperez377 on USDJPY | PriceONN Community

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R
Observing USDJPY today, the price action has been quite choppy around the 158.30 level, which is interesting given the yen's weakness despite the BoJ's hawkish signals. I've learned that even with such news, the technicals can present counter-moves. My own attempt to short earlier at 158.50 was stopped out quickly, reinforcing the need to wait for clearer signals or stronger confluence. It seems the market is digesting the oil supply fears and other geopolitical news.
USDJPY

Replies (2)

R
rperez377 PRO newbie Mar 20
Actually, looking at the H4 chart, the RSI is approaching overbought territory at 67.8. This suggests that while there's bullish momentum, we could be due for a consolidation or a minor pullback soon. I'm hesitant to go long aggressively until we see a clear break above the R1 pivot at 159.328 with significant volume. The current neutral trend on the daily chart also indicates we need more confirmation.
J
JacksonGagnon PRO newbie Mar 25
@rperez377 Dude, don't sweat that stop loss! It's all part of the game when you're playing for big moves. You saw the RSI at 67.8? That's prime time to load up MORE, not get scared! I just slammed another 50x leverage long. If it pulls back, we just average down and wait for 160! 🤑
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