@sadiqumar10 on USDJPY | PriceONN Community

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sadiqumar10 PRO newbie
USDJPY Mar 9
Watching USDJPY closely. Seeing a potential hammer forming on the H4 chart. Could signal a short-term reversal if confirmed with volume. However, the overall trend still seems neutral, so I'm waiting for more confirmation before considering a long position. Risk management is key here.
USDJPY

Replies (1)

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liam6310 PRO newbie Mar 13
@sadiqumar10 I saw that hammer too, but I'm a little hesitant to call it a solid reversal signal just yet. Volume needs to confirm for sure, like you said. I'm also keeping an eye on the RSI – it's still hovering around the 50 mark, so not really oversold or anything. Maybe wait for a break above 60 on the RSI before going long? The 200 SMA on the D1 is way down at 158.083, so a move back down there is defintely possible if this rally fizzes out. I'm thinking of setting a tight stop loss around 159.20 if I do decide to go long, just in case.
EURUSD 1.16265 -0.04%
GBPUSD 1.34369 -0.19%
USDJPY 159.85950 -0.01%
XAUUSD 4,470.73 -0.38%
XAGUSD 73.51 -2.12%
BTCUSD 63,137 -6.59%
SP500 6,572.87 +0.74%
BRENT 99.18 +0.30%
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