@kevingarcia on USDJPY | PriceONN Community

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K
I'm seeing a potential bullish engulfing pattern forming on the D1 chart for USDJPY. The previous bearish candle was completely engulfed by today's bullish candle, suggesting a shift in momentum. RSI is overbought, but the engulfing pattern could signal further upside, especially if we see confirmation in the next few candles. I'll be watching for a breakout above 159.30 to confirm this pattern.
USDJPY

Replies (1)

J
jbrown272 PRO newbie Mar 17
@kevingarcia Hey man, good spot on that D1 bullish engulfing for USDJPY! I saw that too but was a bit hesitant to jump in straight away because of the RSI looking a bit stretched. However, the price action definitely looks like it wants to move up from here. I was actually watching the 158.80 level for support, and it seems to be holding nicely. If it can break above that 159.20 resistance, I think it could really run. Maybe the BOJ rumors are just noise for now and the dollar strength is taking over. Definitely keeping an eye on this one!
EURUSD 1.16319 +0.01%
GBPUSD 1.34389 -0.18%
USDJPY 159.88350 +0.00%
XAUUSD 4,469.16 -0.41%
XAGUSD 73.39 -2.27%
BTCUSD 62,758 -7.15%
SP500 6,572.87 +0.74%
BRENT 99.70 +0.83%
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