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MXNJPY: Odds of holding 9.195 support through month-end
Watching $MXNJPY closely here. The 9.195 level seems to be a significant technical support, tested multiple times today. Given current global risk appetite and carry trade dynamics, I'd put the odds of MXNJPY holding above 9.195 by month-end at around 60%. A break below would likely see accelerated selling towards 9.150.
1 comments · 1 points
That's an interesting call on the 9.195 support. I'm still trying to understand what factors make a support level 'significant' beyond just being tested. Is it the volume at that level or something else?