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FOby u/fokafor·18hAnalysis

Thoughts on NZDJPY at these highs, looking for a rotation

Been watching $NZDJPY for a bit now, and we're seeing some real resistance right around the 93.60-93.65 area. It's been hitting that ceiling, pulling back, hitting it again. The daily candles are showing some wicks up there, suggesting sellers are stepping in each time it pushes. The last few days, specifically today where it topped at 93.628, it just can't seem to get clean through.

My take is we're likely to see a rotation lower from here. I'd be looking for a move back towards the 93.00-92.80 zone, maybe even 92.50 if it picks up steam. What would invalidate this idea for me? A clear, strong daily close above 93.70. Not just a poke, but a convincing close. If that happens, then my bias for a short-term pullback is dead, and it's probably heading higher, but for now, I'm leaning bearish at these levels.

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