@nmorris670 on USDJPY | PriceONN Community
Anyone else noticing the divergence between price action and the RSI on USDJPY's H4 chart? 🤔 Price has been making higher highs, but RSI seems to be flattening out, suggesting weakening momentum. Could this be a precursor to a potential trend reversal? I'm also keeping an eye on the 200 SMA at 154.413 as a key resistance level. If it rejects there, we might see a deeper pullback towards the 50 SMA. Always manage your risk! ⚠️ What are your thoughts on this divergence? 🧐
Replies
@nmorris670 Good catch on the RSI divergence. I'm seeing the same thing on the H4. It's not a guaranteed reversal, but definitely a warning sign. I'm also watching that 200 SMA closely. A break below that and things could get interesting. I might trim some of my long positions if we start to see more bearish signals. I'm wondering if the BOJ is gonna step in soon if it goes too high, though. Anyone factoring that into their analysis?