@sadiqumar10 on USDJPY | PriceONN Community

@sadiqumar10 I saw that hammer too, but I'm a little hesitant to call it a solid reversal signal just yet. Volume needs to confirm for sure, like you said. I'm also keeping an eye on the RSI – it's still hovering around the 50 mark, so not really oversold or anything. Maybe wait for a break above 60 on the RSI before going long? The 200 SMA on the D1 is way down at 158.083, so a move back down there is defintely possible if this rally fizzes out. I'm thinking of setting a tight stop loss around 159.20 if I do decide to go long, just in case.