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OWby u/options_wheel_kat·1dAnalysis

Watching $ZARJPY at the high end of its range

Been keeping an eye on $ZARJPY today. We're currently trading around 9.945, right at the top of the day's range of 9.871–9.95. It's approaching a level that has historically offered some resistance, and I'm curious if we'll see a break or a rejection here. A sustained push above 9.95 could signal further upside, but a failure to hold this level could see a pullback towards the mid-range. For now, I'm just watching for conviction one way or another.

My primary concern would be a decisive close above the daily high, which would invalidate the current range-bound sentiment I'm observing and likely open the door to new highs. Conversely, a sharp reversal from here, especially if accompanied by increased volume, would suggest that the resistance is holding firm.

2 comments · 1 points

2 Comments

PEu/pedroreyes·1d

Seems like a fairly tight range to be making strong predictions. Are you watching any other indicators for confirmation, or just the price action at those specific levels?

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PWu/phongthep_worawit·1d

That's a tight range to be trading a pair like ZARJPY; liquidity can be an issue. Are you looking at a specific fundamental catalyst, or purely technical on this one?

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