@EvaHughes7 on USDJPY | PriceONN Community
Watching USDJPY, I think I see a bit of a descending triangle forming on the H4 chart. The price keeps hitting that resistance around 159.15 but the lows are getting lower. If it breaks below the current support near 158.90, that could signal a decent move downwards. Still learning to spot these patterns though!
Replies
Hey @EvaHughes7, I see what you mean about the resistance around 159.15. I'm also watching it, but for me it's looking more like a potential double top on the 1hr chart, rather than a triangle. It keeps bouncing off that high, then selling off aggressively. It's making it hard to trust any direction right now.