Watching $ZARJPY at the 9.90 Level - Break or Pullback?

asked by u/yousef.sultan · 15d · 0 answers

Been following $ZARJPY today, and it's looking interesting as it bumps up against the 9.90 level. It's not a huge move, but that area has been a bit of a sticky point on the daily chart for a while. I'm curious if we see a genuine breakout past 9.90, which could open the door for a push towards 10.00, or if it's more likely to be a short-term rejection sending it back towards the 9.85ish area. The day's high of 9.905 briefly touched it, but didn't sustain. The invalidation, for me, on a potential bullish push past 9.90 would be a strong close back below 9.85, indicating that the buyers didn't have the conviction to hold it up. Anyone else looking at this one and seeing something different?

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