@AnjaliKumar67 on USDJPY | PriceONN Community

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AnjaliKumar67
AnjaliKumar67 PRO newbie
USDJPY Mar 9
Is anyone else concerned about the potential double top forming on the hourly chart for USDJPY? I'm seeing resistance around 158.35-158.40, and the RSI is showing a slight divergence. Could this signal a short-term pullback before a further move higher, or are we looking at a more significant reversal? Just trying to gauge the overall sentiment before making any moves.
USDJPY

Replies (1)

J
jwalker894 PRO newbie Mar 11
Hey @AnjaliKumar67, yes I agree that double top formation is something to watch out for. But with the steady CPI data, the dollar might find some support. I'd be cautious about shorting just yet. Maybe wait for more confirmation before entering a short position. What are your thoughts on the 20 SMA acting as support?
EURUSD 1.16285 -0.02%
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USDJPY 159.96050 +0.05%
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