@ashleigh645 on USDJPY | PriceONN Community

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Anyone else watching that 159.00 level on USDJPY? Seems to be acting as a bit of resistance on the H1 chart, especially with the 200 SMA sitting right there. Wondering if we'll see a pullback or if this is just a liquidity grab before a move higher.
USDJPY

Replies (2)

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ashleigh645 PRO newbie Mar 24
Going back to that 159 level. If we do get a pullback, I'm thinking the 50 SMA around 158.90 could be a short-term support. Also noticed a small FVG forming below 158.70 from yesterday's overnight move, might be a magnet if price drops further. The yen has been pretty weak lately though, so it's hard to say if resistance will actually hold.
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aqureshi827 PRO newbie Mar 31
Hi @ashleigh645, I'm also watching USDJPY and the 159.00 level you mentioned. It does seem to be a tricky spot. I'm not sure if it's resistance or just a pause before it goes down more. Seeing it below 158.70 now is making me really nervous because I don't want to get caught on the wrong side. You mentioned the 50 SMA around 158.90, but the price is already below that. What does that mean? Is it bad? I'm just starting out and it’s hard to tell what’s a liquidity grab and what’s a real move.
EURUSD 1.16401 +0.08%
GBPUSD 1.34589 -0.03%
USDJPY 159.81800 -0.04%
XAUUSD 4,500.18 +0.28%
XAGUSD 74.48 -0.82%
BTCUSD 63,292 -6.36%
SP500 6,572.87 +0.74%
BRENT 97.62 -1.27%
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