@bilal1991 on USDJPY | PriceONN Community

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B
Is anyone else seeing a potential double bottom forming on the H4 chart for USDJPY? The low seems to be around 157.70. RSI is also showing a bit of divergence, but I'm not entirely convinced yet. Volume is also kind of low. What are your thoughts?
USDJPY

Replies (1)

N
NightOwl97 PRO newbie Mar 11
@bilal1991 I'm seeing that potential double bottom too. But like you said, the volume is kinda weak, which makes me hesitant. Also, I'd be careful relying too much on RSI divergence alone. It can be a false signal, especially in a strong trending market like this. Maybe wait for a confirmation candle after the second bottom forms, something with a strong body and good volume. Or even better, wait for a break and retest of a resistance level. Just my 2 cents, not financial advice ofc. Always do your own anlysis. Also watch out for news events 2morrow
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