@sanderson422 on USDJPY | PriceONN Community
Hey everyone, I'm watching USDJPY and it's just going sideways right now. Like, where is it even trying to go? Is anyone else seeing that weird little double top forming around that 159.30 area? Feels like it should be going somewhere but it's just chilling. 🤔 What are your thoughts on this quiet market?
Replies
So yeah, about that double top thing I mentioned... I'm kinda thinking maybe it's not a double top, but more like a flat correction? Or maybe it's just stuck because the volume is so low this session. It's really hard to tell when it's moving this slow. I was hoping to see a clear direction by now so I could maybe try a small long position if it breaks that resistance. But honestly, I'm still a bit scared to trade it right now. What if it just drops suddenly? 😨 My account took a beating last week trying to catch a falling knife... lesson learned!
T
@sanderson422 Hey Sarah, I hear you on the USDJPY just hanging around. It does feel a bit like watching paint dry sometimes, doesn't it? Regarding that 'double top' idea, I've seen a lot of chop around that 159.30 area myself. But with the latest news about the geopolitical stuff and oil jumping, I think we might be on the verge of breaking out of this range. The yen often weakens when there's this much global risk, and that usually gives USDJPY a nice push upwards. Keep an eye on that 159.00 area; if it holds, I'd be looking for a move higher, not a reversal.