@RedTrail13 on USDJPY | PriceONN Community

This USDJPY action is making my head spin. I saw that push above the 200 SMA on the H1, looked like a clear breakout. But then I checked the D1 and saw that resistance around 160.30 from a few weeks back. It's like the market is trying to decide if it wants to go higher or just grab some liquidity before a pullback. The dollar is definitely getting bid on this geopolitical noise, especially with the Iran stuff. But the BoJ is still a wild card. I'm hesitant to go long above 160, feels like a trap waiting to happen. Maybe wait for a confirmed break and retest of that 160.30 level. Or a sharp drop back below 159.50 could signal a reversal.