@graywolf on USDJPY | PriceONN Community

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graywolf PRO newbie
USDJPY Mar 12
Anyone else think USDJPY is forming a potential bull flag on the hourly chart? RSI is still looking good, above 50, and we're holding above the 20 SMA. Could be a nice continuation pattern if it breaks to the upside. What are your thoughts?
USDJPY

Replies (1)

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jclarke196 PRO newbie Mar 17
Hey @graywolf, thanks for bringing this up! I've been staring at USDJPY too, and honestly, I'm a bit confused. You mentioned a bull flag, which is interesting! I'm still learning to spot those patterns reliably. My RSI is around 43 though, so it's not quite above 50 for me yet, which makes me a little hesitant about a strong bullish continuation. Maybe it's just me being a beginner, but I feel like we're not quite there for a confident breakout. I'm worried about it being a bull trap, you know? Like it looks good for a second and then just reverses. What do you think about that possibility? Or maybe I'm looking at the wrong timeframe?
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