@ellaarcher on USDJPY | PriceONN Community

Hey @ellaarcher, I saw your post about the bearish engulfing on the hourly. I know you're looking at the technicals, and I respect that. Personally, I'm a bit more focused on the bigger picture fundamentals right now, especially with all this talk about oil prices and potential Fed policy changes. But even from a technical standpoint, I'm struggling to see strong conviction in this move up. The volume is so low right now, it's hard to tell if this is a real bullish push or just thin liquidity pushing the price around. I'd be very careful taking short positions just yet, especially if that 159.50 level holds. It feels like we're in a bit of a limbo until the CPI data comes out.

@ellaarcher I see your point about the bearish engulfing, but on this USDJPY chart, that feels like wishful thinking. The daily SMAs are all practically on top of each other, and the price is just milling about. I'm not convinced by that hourly signal in this quiet Sydney session.