@cokoro26 on USDJPY | PriceONN Community
C
This whole USDJPY price action feels like a classic bear trap setting up. We've seen a slight dip today, and it's tempting to think the momentum is shifting downwards, especially with that negative change on the chart. However, look at the RSI; it's sitting right in neutral territory, not showing any real bearish conviction. Also, the 200-day SMA is still significantly below current price levels, suggesting strong underlying support. This could easily be a setup to lure in short sellers before a sharp reversal back upwards, especially if upcoming US data surprises on the upside. Many traders might get caught on the wrong side if they chase this small move down without considering the bigger picture or the historical resilience of this pair.