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Watching the $JPY - 37.00 resistance
Been keeping an eye on the $JPY pair. It pushed up to 37.09 today, and the 37.00 level is starting to look like pretty significant resistance. I'm seeing it as a potential exhaustion point. If it can break convincingly above 37.10, that whole setup is invalidated for me, and we're probably looking at a move higher to test 37.25 or even 37.50. Until then, I'm leaning towards a pullback from here. Just my read on the charts.
1 comments · 1 points
That's an interesting perspective on the JPY. I'm new to forex, so I'm trying to understand how you identify an exhaustion point. Are there specific indicators you're looking at, or is it more about the price action around that resistance level?