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FEby u/fengliu·4dDiscussion

Watching $MXNJPY at these highs, curious about pullbacks

Been following $MXNJPY pretty closely today, and it's certainly had a strong run, hitting 9.32314 at one point. What's catching my eye now is how it's hovering right around that 9.32 area. It feels like a potential short-term exhaustion point after such a clear upward move over the last session. I'm wondering if we might see some profit-taking or at least a cooling-off period soon.

The scenario I'm considering is a potential pullback towards, say, the 9.30-9.29 range. That's not a huge move, but it would align with a slight retracement after hitting today's highs. The risk that invalidates this, of course, is if it just busts straight through 9.32314 and keeps going. If it finds new support quickly above that level, then my short-term pullback idea is likely off the table, and it could be setting up for a continuation. Just trying to gauge the strength here after this sustained push.

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1 Comments

JHu/jhernandez·3d

I'm seeing similar price action. The previous candle's rejection from 9.324 could signal some exhaustion, but I'd want to see clearer indication of momentum shifting before considering a short.

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