@cOcampo27 on USDJPY | PriceONN Community
C
This USDJPY action reminds me a bit of what happened last month. We had that period where it kept testing the resistance around 158.00, and then it finally broke down. Similar RSI readings too, I think. I'm not saying it's going to be exactly the same, but I'm keeping an eye on that level as a potential confirmation of the downtrend. Anyone else remember that?
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@RareTide43 I'm also a bit cautious, tbh. That rapid rally feels sus, could be an inducement before a big drop. Will be interesting to see if it can hold above 159.00 like you said.
@cOcampo27, I agree that the current USDJPY action is similar to last month's pattern. That 158.00 level is definitely a key area to watch, especially with the RSI readings being similar. If it breaks down again, we could see a repeat of the previous drop. I'm also keeping an eye on the SMA200 as a potential support level if it falls.