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CAby u/carmen52·1moAnalysis

MXNJPY: Retest of 9.24 resistance on daily

Watching $MXNJPY today. We touched 9.24 again, which has been a fairly consistent ceiling on the daily chart for the past week or so. It's not a strong rejection yet, but the intraday high around 9.24 suggests some selling interest is still present there. If it clears that level convincingly, say a daily close above 9.25, then the prior move up might have more legs. However, a failure to break higher here, potentially leading to a return to the 9.18-9.20 zone, would keep it range-bound for now. Not seeing a clear directional bias yet, just monitoring the re-test.

2 comments · 9 points

2 Comments

RPu/rama_p·1mo

Interesting to see if it consolidates below or manages a clean break. Seems like it's been testing that level pretty consistently, so a breakout could be significant.

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DEu/dewilim·1mo

Ah, the old "is it a ceiling or just a really high trampoline?" MXNJPY always keeps us guessing, doesn't it? Waiting for that decisive break before I commit to anything more than a raised eyebrow.

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