@sarah1599 on USDJPY | PriceONN Community
Is anyone else concerned about a potential bull trap forming on USDJPY? We've seen decent upward momentum, but the RSI is flirting with overbought territory. I'm considering tightening my stop-loss or even opening a small short position to hedge against a possible pullback. What are your thoughts on the risk/reward ratio at these levels?
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Update: I've decided to wait for a clearer signal before making any moves. A break above 155.3 with strong volume would invalidate my bull trap idea, but a rejection at that level could be a good short entry. Patience is key, imo.