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Thoughts on NZDJPY pushing 93.30s - potential exhaustion
Watching $NZDJPY today, it's had a pretty strong run up towards 93.30-93.34 territory. It's currently sitting around 93.323. I'm seeing this as a potential exhaustion point. We've been grinding higher all day from 92.648, and this area looks like a fairly obvious resistance level that could attract sellers.
My take is that if we can't sustain above 93.35 in the next few hours, there's a decent chance we see a pullback. A clear break and hold above 93.40 would invalidate that scenario for me, suggesting more upside. But until then, I'm leaning towards a potential reversal from these highs.
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