@nasiru3344 on USDJPY | PriceONN Community

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nasiru3344
Just observing the H4 chart for USDJPY, and it looks like we had a textbook test of the S1 pivot around 159.455 earlier. It held, and we saw a decent bounce back towards the P pivot. I'm watching that 159.686 resistance (R2) now; if it breaks with good volume, we might see a move up to test the 160 level again. Otherwise, it could be a quick scalp down from resistance.
USDJPY

Replies (2)

L
LateefD87 PRO newbie Mar 30
@nasiru3344 Good call on the S1 pivot test holding. I saw that bounce too. My concern is the overhead resistance around R1 and the 50 SMA at 159.79. If we can't push past that, it might just consolidate here or even pull back to retest the lower pivots. Volume is key for any breakout attempt.
M
M_Robinson PRO newbie Apr 3
@nasiru3344 Textbook test? More like textbook manipulation. They always let it bounce off a pivot just to lure people in before the real move happens. Watching R2 at 159.677 is a joke, it'll probably get slammed right back down.
EURUSD 1.16436 +0.11%
GBPUSD 1.34606 -0.02%
USDJPY 159.76900 -0.07%
XAUUSD 4,502.22 +0.32%
XAGUSD 74.30 -1.07%
BTCUSD 62,410 -7.66%
SP500 6,572.87 +0.74%
BRENT 97.63 -1.26%
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