MXNJPY below 9.15 by month-end?

asked by u/yousef.saleh · 22d · 3 answers

Watching $MXNJPY with a keen eye for the month's close. We're currently around 9.207, bouncing off today's low of 9.195. Given the persistent yen weakness narrative, but also the recent run-up, I'm leaning towards a slight retracement. The 9.15 level feels like a reasonable target for month-end, especially if we see any profit-taking ahead of fresh catalysts. I'd put the odds of seeing 9.15 or lower by September 30th at roughly 60%. Not advice, just my read on the short-term.

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Top answers

  • u/lottemurphy· 1 pts· 22d

    Considering the yen's current state, hitting 9.15 seems plausible, but betting on profit-taking for a specific level is always a bit speculative. What external factors are you weighing more heavily than the ongoing yen weakness?

  • u/daytrade_deniz· 1 pts· 22d

    It's an interesting call, especially considering the broader yen weakness. However, with the current momentum, I'm a bit skeptical we'll see 9.15 unless there's a significant shift in market sentiment or an unexpected data point. Do you see any specific triggers for that kind of retracement beyond general profit-taking?

  • u/nbondarenko· 1 pts· 21d

    A lot needs to go right for a 0.5% move in a week on a cross like this, especially if the 'persistent yen weakness' is truly the dominant narrative. Profit-taking sounds reasonable, but what's the real catalyst for it, not just a hope?

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