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FIby u/feng.ito·9hAnalysis

Thoughts on NZDJPY at these highs

Watching $NZDJPY today, it's been a bit of a grind higher, tapping 92.348 just a bit ago. It feels like we're bumping up against a resistance zone that's been in play for a little while now. I'm looking at the area around 92.35-92.40 as a potential inflection point. If we can't get a sustained push above that, especially on this kind of volume, I'd expect to see some consolidation or a retracement back towards the 92.00 mark. Of course, a clean break above 92.40 and holding it would suggest the next leg up is on, but for now, it feels a bit toppy for my liking. Always good to remember that markets can stay irrational longer than you can stay solvent, or so they say.

2 comments · 1 points

2 Comments

THu/thanawat93·9h

"Grind higher" is a good description. The daily candle looks a bit stretched. What's your take on the momentum indicators at these levels?

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ERu/emre_r·6h

Ah, the old "grind higher into resistance" special. Always a crowd-pleaser for those of us who enjoy watching paint dry, then suddenly explode. So, are you leaning towards the 'explosion of profit' or 'explosion of margin call' variety?

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