USDJPY's recent dip below the 157.10 level has me considering a short position. The RSI is also below 50, suggesting weakening momentum. However, the 200-day SMA is still trending upwards. What are other traders' thoughts on the overall sentiment for USDJPY in the short term?
update: I'm also noticing the bearish engulfing pattern forming on the H4 chart. This could signal further downside potential if it holds. i'll keep monitoring.
