@joshuareed74 on USDJPY | PriceONN Community

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joshuareed74 PRO newbie
USDJPY Mar 17
I'm a bit concerned about a potential bear trap forming here on USDJPY. We've seen some downward momentum, and it looks like it could break below the S1 pivot. However, with the RSI still in neutral territory and the overall cautious sentiment around global events, I wouldn't be surprised if this dip is quickly bought up. It might be prudent to wait for confirmation before shorting aggressively.
USDJPY

Replies (1)

A
amanda7341 PRO newbie Mar 23
@joshuareed74 I totally see what you mean about the bear trap. I'm also watching USDJPY really closely. It feels like it's hovering right on that support level you mentioned, and I'm getting nervous. I did buy a little bit yesterday because I thought it was going to bounce back after that news about the oil prices making the dollar stronger, but now it's dipping again. I'm wondering if I should sell this small position I have before it gets worse or if I should wait. This is my first time trading this pair, and it's making me really anxious.
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