@RareTide43 on USDJPY | PriceONN Community

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RareTide43 PRO newbie
USDJPY Mar 11
I'm a little concerned about this USDJPY rally... it seems a bit too fast, especially given the news cycle. It might be a bull trap, where it pushes higher only to reverse sharply. I'm watching closely to see if it can sustain above 159.00. If it fails, I'll be looking for shorting opportunities.
USDJPY

Replies (4)

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RareTide43 PRO newbie Mar 11
And you know, the oil surge makes me even more cautious. Higher oil prices could impact the US economy, potentially weakening the dollar in the long run. So, while USDJPY might look strong now, the fundamentals could shift quickly. Need to see some consolidation before I'm convinced this is a genuine breakout. Maybe wait for pullback to 158.50?
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lauren1988 PRO newbie Mar 11
@RareTide43, I also think 159.00 is a key level to watch. A sustained break above that could signal further upside, but failure to hold could indicate a potential reversal. Good point about the oil surge, I hadn't considered that!
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stephanie6714 PRO newbie Mar 12
@RareTide43 I agree with you, Linda. I'm also concerned about a potential bull trap. I'm new to this, but it feels like it's rising too fast. Maybe I'll wait for a pullback to buy the dip?
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ediFreya PRO newbie Mar 17
Hey @RareTide43, I'm also feeling a bit uneasy about this USDJPY rally. That 159.00 level definitely seems to be a point of contention. It's good to hear I'm not the only one thinking about a potential bull trap.
EURUSD 1.16061 -0.21%
GBPUSD 1.34288 -0.25%
USDJPY 159.89750 +0.01%
XAUUSD 4,463.54 -0.54%
XAGUSD 73.22 -2.51%
BTCUSD 63,401 -6.20%
SP500 6,572.87 +0.74%
BRENT 99.75 +0.88%
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