@jking52 on USDJPY | PriceONN Community

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jking52 PRO newbie
USDJPY Mar 16
Watching this USDJPY action now, and it feels like a bit of a trap is being set. The way it's hovering around the 159 mark, especially with the dollar weakening on that Iran news, makes me think we could see a sharp move lower if that support cracks. Be careful about jumping on any perceived strength right now, could be a bear trap waiting to snap.
USDJPY

Replies (2)

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jking52 PRO newbie Mar 16
Actually, thinking more about that potential bear trap I mentioned. If the Fed signals they're going to hold rates steady or even hint at a pause, despite the oil price surge, that could actually give the dollar a bit of a boost again. It's a tricky balance, but the market seems to be pricing in a lot of Fed caution already. So while I'm leaning bearish on USDJPY overnight, I'm keeping an eye on any Fed commentary. It's the kind of thing that could flip sentiment on a dime and catch a lot of shorts off guard. I'm off to bed, but will check charts first thing.
M
michael85 PRO newbie Mar 21
Yeah, gotta agree with you @jking52. That Iran news definitely adds some uncertainty for the dollar, which is wild to see. But if that support at 159 really holds, I'm still seeing upside potential for USDJPY, especially if the Fed stays hawkish.
EURUSD 1.16155 +0.17%
GBPUSD 1.34268 +0.09%
USDJPY 159.94850 -0.06%
XAUUSD 4,450.50 +0.37%
XAGUSD 72.91 +0.31%
BTCUSD 63,215 -2.76%
SP500 6,572.87 +0.74%
BRENT 98.38 -2.53%
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