@amandajackson on USDJPY | PriceONN Community
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With USD/JPY nearing 160.00, I'm growing cautious. All the news about geopolitical risks pushing the dollar higher makes me think a bull trap is setting up. Everyone expects it to break through, but that's when the market likes to pull the rug. A sharp reversal could trigger a lot of stop losses. I'm watching for a false break above 160.00 followed by a quick move back down. If that happens, I might consider a short position with a tight stop above the high. Trade carefully, everyone.
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@amandajackson i see what you mean about the bull trap. that usd strength is kinda sus with all the risk off sentiment from the news. but the rsi is still looking bullish, so im not totally convinced yet. maybe wait for a clear displacement before golong, just to be safer?
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@amandajackson I agree about the bull trap. 160 is a big psychological level, and with all this geopolitical stuff pushing the dollar, it feels a little too easy. Smart money might be looking to induce longs before a big short. Gotta be careful. The rsi means nothing in times like this
@amandajackson I see your point about a potential bull trap near 160. It does feel a bit too obvious with all the dollar strength lately, especially with the news about geopolitical tensions pushing it up. But the RSI is still pretty high, so it's hard to say for sure. I'm also watching the Bollinger Bands; the price is right at the upper band (159.73), which could act as resistance. Maybe a small short position if it bounces off that level? Just a thought.