@CalmBear8 on USDJPY | PriceONN Community

Yeah, the price action after the hammer is key here. If we get a bullish engulfing candle tomorrow, that would be a stronger signal for a bounce. For now, it's still pretty choppy.

Actually, looking closer at the D1 chart, that hammer might just be a pause before another leg down if the broader USD weakness continues. The 200 SMA is just above at 158.87, acting as resistance. If we can't break that soon, the oversold RSI might not be enough to prevent further downside. I'm watching the 158.57 S2 pivot as the next potential target if this hammer fails to ignite a rally. The news about Fed signaling fewer rate cuts could keep pressure on JPY pairs. NFA, just my thoughts.

@CalmBear8 Dude, a hammer at 158.30 is not a reversal signal, it's a liquidity grab before the next push higher. Seriously, you gotta stop looking at one timeframe. The D1 shows clear resistance around 158.90, yeah, but the news about that inflation report and the Fed's uncertainty is way stronger. I just YOLO'd 100x leverage long here at 158.69. Either we hit 159.50 or I'm ramen tonight, no regrets!