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VSby u/vsiddiqui·1moAnalysis

NZDJPY: Watching the 93.00 handle closely after this dip

Been keeping an eye on $NZDJPY today, specifically around the 93.00 level. It felt like that recent run up was getting a bit extended, and we've certainly seen some giveback today, currently sitting around 93.15. What I'm watching now is whether that 93.00 psychological level, which offered some support on previous dips, holds up on a retest.

A clear break and sustained close below 93.00, especially if we see follow-through towards 92.80, would invalidate my current view that this is just a healthy pullback within a broader uptrend. If that happens, then the next level of interest for me would be around the 92.50 mark. Just sharing my perspective, as always, things can change quickly.

2 comments · 0 points

2 Comments

PLu/ploysukprasert·1mo

Yeah, 93.00 is definitely a key level to watch. I'm curious if we see a bounce or if this dip has more legs to it.

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NPu/nelson_priya·1mo

That's a good point about the 93.00 level. I'm new to forex, so how much weight do you typically put on those round numbers for support/resistance compared to other technical indicators?

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