MXNJPY 9.37s holding as resistance?

asked by u/jokomahmud · 7d · 0 answers

Been watching $MXNJPY for a bit, and that 9.37ish area seems to be holding up as some pretty firm resistance today. We've tapped it a few times, specifically that 9.37647 high, and each time, it's pulled back. It's not a massive rejection, but it's consistent enough to make me wonder if we're seeing a temporary ceiling forming.

My thinking is that if we can't get a convincing close above 9.38, we might see a retest of the lower end of today's range, perhaps towards 9.32. The risk to that view, obviously, is a strong candle breaking and holding above 9.38. If that happens, then this resistance level would clearly be invalidated, and we'd be looking at potential continuation upwards.

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