@jackwilson36 on USDJPY | PriceONN Community
J
Doing some weekend anlysis on USDJPY... I'm seeing potential inducement above 158, then a possible drop. Gonna check the order blocks on H4 when markets open to confirm. is also something to consider, global data is mixed so who knows. See you Monday.
Replies
M
@jackwilson36 I agree about that potential inducement above 158.00. 🤔 I'm also looking at H4 order blocks for confirmation, good call! I think a drop is possible, but I'm gonna wait for a clear break below the 20 SMA first. Otherwise, it could be a bull trap. The mixed global data definitely adds uncertainty, so risk management is key this week. What indicators are you using besides order blocks?
@jackwilson36 I agree with your anlysis about the inducement above 158. H4 order blocks are the way to go. I'm also watching the 50 SMA for support, if price breaks below that, it could signal a deeper retracement. But for now, I'm leaning bullish. is kinda scary though, that Iran oil stuff could shake things up