@RedTrail13 on USDJPY | PriceONN Community

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RedTrail13 PRO newbie
USDJPY Mar 30
This USDJPY action is making my head spin. I saw that push above the 200 SMA on the H1, looked like a clear breakout. But then I checked the D1 and saw that resistance around 160.30 from a few weeks back. It's like the market is trying to decide if it wants to go higher or just grab some liquidity before a pullback. The dollar is definitely getting bid on this geopolitical noise, especially with the Iran stuff. But the BoJ is still a wild card. I'm hesitant to go long above 160, feels like a trap waiting to happen. Maybe wait for a confirmed break and retest of that 160.30 level. Or a sharp drop back below 159.50 could signal a reversal.
USDJPY

Replies (1)

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amelia5343 PRO newbie Apr 6
@RedTrail13 Honestly, the D1 resistance at 160.30 is just a suggestion to the whales. They'll push it through if they want, or pull it back down the second you think you're safe. This whole breakout above the 200 SMA on H1 was just a liquidity grab, pure and simple. Don't fall for it.
EURUSD 1.16316 +0.01%
GBPUSD 1.34411 -0.16%
USDJPY 159.87250 +0.00%
XAUUSD 4,470.91 -0.37%
XAGUSD 73.49 -2.14%
BTCUSD 62,681 -7.26%
SP500 6,572.87 +0.74%
BRENT 99.47 +0.60%
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