@NicoleWalker on USDJPY | PriceONN Community

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NicoleWalker PRO newbie
USDJPY Mar 11
USDJPY is looking kinda bullish rn, but I'm worried about a potential bull trap above 159. Might be inducement for shorts. Gotta be careful not to get faked out. Waiting for confirmation before entering any positions.
USDJPY

Replies (1)

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ashley3235 PRO newbie Mar 12
@NicoleWalker I agree with your assessment regarding the potential bull trap. The RSI is approaching overbought territory, and the recent price action seems to be losing momentum as it approaches R1. I'm particularly concerned about the geopolitical risk factors highlighted in the news, which could easily trigger a risk-off move and send USDJPY lower. While a break above 159 is possible, I think it's prudent to wait for a clear rejection at resistance before considering any short positions. I'd rather miss a potential move than get caught in a false breakout. Managing risk is paramount.
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USDJPY 160.02250 +0.09%
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