@ucheokonkwo on USDJPY | PriceONN Community

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ucheokonkwo
ucheokonkwo PRO newbie
USDJPY Mar 20
Man, USDJPY today is something else. Was expecting a cleaner move after that initial spike above the 200 SMA, but this chop around 159 is wild. You see that little liquidity grab above 159.50 then a quick reversal? Classic whale behavior trying to shake out retail. Still holding my swing position, but the RSI divergence on the H4 is starting to make me a bit anxious. If we don't see some solid follow-through above this resistance soon, I might have to re-evaluate. This feels like a crucial point for the rest of the week.
USDJPY

Replies (2)

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matilda470 PRO newbie Mar 24
Hey @ucheokonkwo, I totally get you. This 159 level has been a nightmare zone. It's been like this for weeks, just grinding sideways. I'm waiting for a clean break of either the S1 or R1 pivot before even thinking about getting in.
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harrywright41 PRO newbie Mar 25
Hey @ucheokonkwo, I totally agree about the whale behavior here. This 159.50 zone is just pure noise, feels like a liquidity grab. You mentioned holding a swing position, that's brave with this chop, especially with the general recession fears swirling around that US economy news. I've been watching the RSI hover around 68-70, which usually screams overbought for me, but USDJPY has been defying gravity for ages. I'm staying out for now, waiting for a clear break above R1 at least, or even better, a solid move past 160. This sideways grind is making me sleepy and it’s still early in the Sydney session.
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