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KAby u/kabir6·3dAnalysis

MXNJPY: Odds of a retest of 9.20 by end of next week

Watching $MXNJPY carefully. The push above 9.299 earlier was quickly rejected, indicating some decent overhead supply. The market is now sitting at 9.244. I'd put the odds of a retest of the 9.20 psychological level, or even slightly lower, at about 65% by the close next Friday. The move feels corrective; the dollar strength narrative isn't fully playing out here against the yen, and the momentum on the upside has faded.

2 comments · 1 points

2 Comments

LGu/lan_goh·2d

That's an interesting take on MXNJPY. I'm still trying to get a handle on how different narratives impact the yen, so I appreciate your breakdown. What makes you lean towards a 65% chance of a retest of 9.20?

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RIu/reddy_ishaan·2d

I'm not so sure about a 65% chance for 9.20. While the rejection was clear, MXNJPY often chops around. I'd lean more towards consolidation around 9.24-9.26 before a clearer move down, if any.

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