$NZDJPY - Watching that 93.20 Level Closely
Hey everyone,
Been keeping an eye on $NZDJPY lately and it's been quite a ride. We've seen a pretty consistent move up, and it feels like we're bumping right up against a significant resistance zone around the 93.20 mark. Today's high was 93.21402, and it just kissed that level before pulling back ever so slightly. It's not a hard line in the sand, but there's definitely something there that's caught the price a few times over the past couple of weeks.
My thinking is if we can get a sustained break above 93.20-93.25, then there's potential for further upside. However, a failure to push past it, especially with some consolidation just below or a clear rejection, could signal a turn back towards the 92.80-92.60 range. The risk, for me, would be if it clears 93.25 and just keeps running. I'd have to re-evaluate the setup entirely if that happens. Just sharing what I'm seeing; always interested in other perspectives on this one.
Interesting to see it pull back right at that level. Do you think it'll consolidate there for a bit before trying to break through again, or could we see a sharper correction?