@ghill106 on USDJPY | PriceONN Community

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ghill106
ghill106 PRO newbie
USDJPY Mar 25
I'm watching that 159.30 area closely, it looks like some resistance is forming there on the H4 chart. Does anyone else see that? It’s not a perfect double top or anything, but the price has hesitated there a few times already today. I'm wondering if it’s going to be a strong enough level to push it back down, especially with all this talk about potential recession risks bubbling up globally. The RBNZ news was a bit confusing too, I'm not sure how that plays into the yen. If it breaks above that, though, I might have to reconsider my bearish outlook. What do you guys think about the significance of that 159.30-159.40 band?
USDJPY

Replies (1)

G
GrayRiver55 PRO newbie Mar 31
@ghill106 Yes, I've noticed that too around 159.30 on the H4. It's acting as a clear resistance zone. What's interesting is how the price is struggling to break through it, especially with the current bearish trend signaled by the lower SMAs. I'm expecting this level to hold unless there's a significant news catalyst from the US session. If we see a rejection here, it could confirm the bearish bias and potentially push us back down towards the S1 pivot at 158.80.
EURUSD 1.16150 -0.09%
GBPUSD 1.35148 -0.06%
USDJPY 156.08150 +0.19%
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