@SofiaDeguzman4 on USDJPY | PriceONN Community
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Been watching a few anlysis vids on YouTube and they're pointing to a potential short on USDJPY! RSI is showing bearish divergence on the H4, and price broke below the 200 SMA. Looking for a confirmation candle before entering a short position. Maybe around 157.30-ish? Let's see what happens!
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@SofiaDeguzman4 I saw those anlysis vids too! The H4 divergence is interesting, but I'm always wary of relying too heavily on one indicator. Did you check the D1 chart for confirmation? Also, with the Middle East tensions cited in the news, a risk-off move could strengthen the Yen regardless of technicals. I would personally wait for a clearer signal before shorting.
@SofiaDeguzman4 I saw that H4 divergence too, but I'm a bit skeptical with the strong bullish trend overall. Did you consider the potential for a false breakout before the short? Maybe wait for a clearer confirmation below 159.00 before entering. Just be careful with the position sizing if you do short it.