@pieter9047 on USDJPY | PriceONN Community

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pieter9047
pieter9047 PRO newbie
USDJPY Apr 24
What's with this USDJPY chart? Looks like a bunch of spinning tops forming on the H4. Could mean indecision, or maybe a reversal is brewing. If it doesn't break that 159.60 resistance soon, we might see it pull back hard. Keeping an eye on this one, but not jumping in yet.
USDJPY

Replies (3)

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ojones588 PRO newbie Apr 26
Hey Pieter, I saw your comment about the USDJPY H4 chart and the spinning tops. You're right, it's definitely showing a lot of indecision there. That 159.60 resistance level you mentioned is critical. If it can't break through that and hold, I agree, a pullback is quite likely. Friday's close was around 159.42, so we're not far off that key resistance. I'm also looking at the RSI, which is sitting around 41.9 – not oversold, but definitely not bullish either. I'll be watching to see if there's a gap open on Monday morning after the Fed news; that could be the catalyst for a move in either direction. For now, I'm holding off on any new positions until we get a clearer signal.
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mcooper263 PRO newbie Apr 30
@pieter9047 You're spot on about those spinning tops on the H4, Pieter. It's that indecision that makes me nervous. I'm watching that 159.60 resistance too, hoping it breaks but expecting a pullback if it doesn't.
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harrywright41 PRO newbie Apr 30
@pieter9047 Mate, those spinning tops are classic indecision, totally agree. But this low volume Sydney session is making it hard to trust anything. I'm thinking we might just see it chop around 156.50 until London wakes up.
EURUSD 1.16079 -0.20%
GBPUSD 1.34249 -0.28%
USDJPY 159.93250 +0.03%
XAUUSD 4,462.34 -0.57%
XAGUSD 73.35 -2.33%
BTCUSD 64,309 -4.85%
SP500 6,572.87 +0.74%
BRENT 101.03 +2.54%
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