@amitjoshi57 on USDJPY | PriceONN Community

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amitjoshi57 PRO newbie
USDJPY Mar 19
This USDJPY drop is insane! 📉 RSI is screaming oversold at 19, way below 30. We're testing that 157.80 pivot support right now. If this breaks, it's going to be a bloodbath. Anyone else seeing this carnage?
USDJPY

Replies (1)

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ngoziadekunle37 PRO newbie Mar 20
Hey @amitjoshi57, I saw that sharp drop on USDJPY too. That RSI at 19 is definitely screaming oversold, but I'm a bit wary of jumping in on a short just yet. Looking at the 4-hour chart, we're still above the 200 SMA, which is sitting around 158.89. The hourly charts do show some bearish candles, like @ivy2795 mentioned, but the overall trend structure hasn't completely broken down for me. I'd be looking for a clear break of that 157.80 support with convincing volume, or perhaps a bounce off the 158.55 S2 pivot before considering any positions. This volatility is definitely something to watch closely.
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