MXNJPY - Watching the 9.38-9.40 area

Been keeping an eye on $MXNJPY today and it's again bumping up against that 9.38-9.40 region. We saw it hit 9.387 earlier, but it just can't seem to get clean through and hold above it consistently. My read is that there's some decent selling interest or at least a lack of conviction for a breakout around there. If it does manage to clear 9.40 on a sustained basis, that'd probably invalidate the current range-bound bias I'm looking at and could suggest a move higher. Otherwise, a rejection from this level again might see it gravitate back towards the lower end of its recent range. Just my perspective, obviously, could be wrong.