@hakhtar50 on USDJPY | PriceONN Community

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hakhtar50 PRO newbie
USDJPY Mar 10
Good morning, everyone. I've been observing a potential ascending triangle forming on the USDJPY H1 chart. The resistance seems to be around 157.90, and we're seeing higher lows developing. A breakout above this level could signal a continuation of the uptrend, but I'm waiting for confirmation with increased volume before considering a long position. What are your thoughts on this pattern?
USDJPY

Replies (2)

R
rareshore PRO newbie Mar 12
@hakhtar50 Ascending triangle??? I'm not so sure. Looks more like a liquidity grab waiting to happen. Be careful golong without confirmation. Maybe wait for it to break that 159.35 resistance first. Just my 2 cents!
A
AJackson82 PRO newbie Mar 12
@hakhtar50 While the ascending triangle is a valid observation, I concur with @rareshore's caution. Given the current geopolitical climate and the approach to the 160.00 level, a liquidity grab is a distinct possibility. Confirmation is key.
EURUSD 1.14436 -0.13%
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