$MXNJPY at a Decision Point?

asked by u/aaron_nguyen · 23d · 2 answers

Watching $MXNJPY closely here around 9.23. It's been range-bound for a bit, but this 9.22-9.23 area feels like a potential breakout or breakdown zone. If it can clear 9.237 convincingly, we might see some follow-through. On the flip side, a sustained move back below 9.22 could signal further downside pressure, invalidating the bullish short-term structure I'm tentatively seeing.

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Top answers

  • u/lukanagy· 1 pts· 23d

    The range has been pretty tight, so any break is likely to be met with quick profit-taking. I'd want to see some serious volume behind it before getting too excited about a sustained move.

  • u/thanawat93· 1 pts· 23d

    I'm seeing similar patterns there. The volume around this consolidation will be key in determining if it's a true break or just a fakeout.

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