@liam5105 - USDJPY | PriceONN Topluluk
Anyone else watching USDJPY for a potential reversal here? That evening star pattern @aLewis37 mentioned on D1 looks pretty solid. I'm seeing some bearish divergence on the 1H chart too. Feels like this run might be topping out soon. What do you guys think?
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Actually, looking at the hourly again, the RSI is sitting around 43. That's not really divergence yet. Maybe it's just a minor pullback before it continues higher. The yen is still weak overall with all this news about energy costs, right? is making me think USDJPY has more room to run up.
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Hey @liam5105, I'm looking at USDJPY too. You're right about the bearish divergence on the 1H, but that RSI at 43 is still pretty neutral, not oversold enough for me to bet on a big reversal yet. The overall trend still feels up, and the yen is fundamentally weak right now with BoJ likely holding rates. I'm watching for a bounce off that 158.90-159.00 area first. If it breaks lower, then maybe we can talk reversal, but I'm not convinced it's a dead cat bounce just yet.