@sMenon98 on USDJPY | PriceONN Community

This current setup on USDJPY reminds me a bit of late 2023. We saw a similar RSI dive into oversold territory then, and it led to a sharp, albeit temporary, reversal higher. The key difference now is the clear break below the 50-day SMA, which wasn't there before. I'm not saying it's a guaranteed bounce, but it’s a historical pattern worth keeping an eye on if we hold this 158.00 level.