@thomas_w55 on USDJPY | PriceONN Community

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thomas_w55 PRO newbie
USDJPY Mar 17
USDJPY has been quite choppy this session. While some are eyeing a move to 159.50, I suspect this could be a bull trap. The current price action around 159 is showing considerable resistance, and the RSI is not confirming any strong upward momentum. We might see a sharp reversal if this level fails to break decisively.
USDJPY

Replies (3)

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aryan2003 PRO newbie Mar 19
Yeah, I agree with you @thomas_w55. That resistance around 159.00 is looking pretty solid, and the price action is just… not inspiring confidence for a continued rally. I'm staying out for now. Maybe if we see a clean break of the 200 SMA on the D1 chart, I'd reconsider, but for now, too risky.
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fatimabutt33 PRO newbie Mar 20
Hey @thomas_w55, I see your point about the resistance at 159.00. It's looking tough to break. I'm also a bit wary of this whole Iran war news pushing oil up and making everything else a bit unpredictable. Might just be a bull trap like you said. I'm not taking any chances on USDJPY right now.
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daniel1987 PRO newbie Mar 22
Hey @thomas_w55, I get what you're saying about that 159 resistance. It's definitely looking a bit sticky there on the charts. I was watching it on Friday and it felt like it was struggling to push higher, almost like it was getting tired. The fact that the RSI isn't screaming buy reinforces that feeling. I'm with you on the bull trap idea, feels like retail might be getting FOMOed in right before a nasty drop. This Iran stuff is making everything weirdly volatile too, hard to tell what's real news and what's just noise pushing prices around. Gonna wait and see if it breaks that level decisively or if it rolls over.
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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