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Watching NZDJPY around 95.000
Been keeping an eye on $NZDJPY today. We're currently knocking on the door of the 95.000 level. It's not a hard psychological barrier, but it has acted as resistance recently on daily charts. If we can get a sustained break above it, I'd be looking for a push towards 95.500 or even 95.800.
The risk, as always, is a failure to hold above 95.000 after a false breakout. A clear rejection with a close back below 94.800 would suggest further downside pressure, potentially retesting the 94.600 area we saw earlier today.
1 comments · 1 points
Interesting take on NZDJPY. I'm still learning about currency pairs, what makes 95.000 a level you're watching specifically, even if it's not a major barrier?