Anyone else think USDJPY might be forming a bearish divergence on the H4 chart? Price making higher highs, but RSI looks like it's topping out. Could be a decent short opportunity if it confirms. I'm setting alerts just in case. What's your take?
@sandeep9396 I'm seeing that bearish divergence you mentioned on the H4 chart too. The RSI definitely looks overbought, but I'm hesitant to go short just yet. The overall trend is still strongly bullish, and we're above all the key SMAs. I'd want to see a clear break below the 20 SMA at 157.728 before considering a short position. Maybe wait for confirmation with a bearish candlestick pattern on the H4 chart before entering? News from Japan might also give us a direction.
