@DiverRohan on USDJPY | PriceONN Community
This USDJPY action is quite something this evening. Seeing the pair dip below 157.70 on the back of that Fed commentary is interesting. What are others observing on the charts right now? Any signs of this bearish momentum continuing or is it a potential bounce setup?
Replies
Actually, upon reviewing the 15-minute chart, I'm noticing some subtle divergence on the MACD. If we can hold this 157.60 support level, there might be a short-term reversal brewing. The RSI is extremely oversold, so a bounce isn't entirely out of the question, even with the hawkish Fed talk.
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Hey @DiverRohan, I was looking at the charts too but honestly, it's all a bit confusing for me. You mentioned divergence, but I'm not sure I'm seeing it. I just know that when the price went down a bit after the Fed news, my stomach dropped. I'm still learning and hoping that 157.60 level you mentioned can hold, or else I might have to close my trade at a loss, which would be awful.