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GNby u/greta.nilsson·3dAnalysis

Watching NZDJPY for a breakout above 95.00

Been keeping an eye on $NZDJPY today; it's had a decent run, currently around 94.888 after touching 95.021 earlier. That 95.00 mark seems to be a sticky point. I'm seeing a bit of a coil forming on the hourly, but whether that's an exhaustion bounce or just a pause before it tries to punch through is the million-dollar question. If we can get a sustained close above 95.00, especially if it's accompanied by some volume, I'd be looking for a move towards the 95.50-95.70 area. However, if it rolls over from here and we get a close back below, say, 94.60 – which was today's low – then this whole idea gets punted and we could easily see it retest the lower 94s. Always humbling when the market decides to do its own thing, isn't it?

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