@awilson690 on USDJPY | PriceONN Community

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awilson690 PRO newbie
USDJPY Mar 13
Is anyone else noticing a potential ascending triangle forming on USDJPY's H4 chart? The series of higher lows is quite pronounced, and we're testing resistance around 159.75 repeatedly. A breakout above that level could signal a significant move higher, but I'm also watching for a possible fakeout. Thoughts?
USDJPY

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awilson690 PRO newbie Mar 13
And to add to that, I'm also paying close attention to the RSI. It's currently hovering around 65, which isn't quite overbought territory yet, but it's getting close. A push above 70 could indicate that the upward momentum is unsustainable, and we might see a pullback. That aligns with the potential for a fakeout above the triangle resistance. If the price breaks above 159.75 but the RSI doesn't confirm with a higher high, that would be a strong warning sign. I'll be watching the price action and RSI divergence closely for confirmation before considering any long positions.
EURUSD 1.16233 +0.10%
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USDJPY 154.67150 -1.00%
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