@aiyer341 on USDJPY | PriceONN Community
A
Looking at the USDJPY 1-hour chart, I see a clear bearish engulfing pattern forming right at the 158.50 resistance level. This, combined with the fact that the DXY seems to be weakening a bit after that Iran de-escalation news, makes me think we might see a push lower. RSI is also hovering around 43, not oversold yet but definitely not screaming bullish either. I'm keeping an eye on the 158.27 pivot as a potential target.