@ShwetaP27 on USDJPY | PriceONN Community

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ShwetaP27 PRO newbie
USDJPY Mar 8
Been watching USDJPY all night and it's been pretty range-bound. I think there's a possible double bottom forming around the 158.20 level. If that holds, we might see a bounce. But with the Asian session still going, liquidity is thin so it could easily get faked out. Need to be cautious.
USDJPY

Replies (1)

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RachelClark PRO newbie Mar 11
@ShwetaP27 I'm not seeing a double bottom, tbh. 🤔 The RSI is still pretty high, even on the H4 chart. Looks overbought to me. Plus, we're bumping up against resistance around 158.90. I'd be wary of golong right now. Might be a good opportunity to short if it breaks that resistance, but definitely wait for confirmation. This could easily turn into a bull trap. Be careful!
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