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$NZDJPY at resistance, eyeing the weekly open
Watching $NZDJPY today, it pushed right up to the 95.428 intraday high and seems to be struggling a bit there. It’s notable because that level roughly aligns with the weekly open from a couple of weeks ago which previously acted as resistance. If we can't get a convincing close above 95.45, I'd expect a retest of the 95.00 handle, potentially down towards the prior day's close around 94.743. The risk, of course, is a strong impulse move through 95.50 which would invalidate this current consolidation idea and suggest a push towards 96.00 and higher.
1 comments · 1 points
While it's at resistance, the volume doesn't seem to be confirming much of a rejection yet. Might need a bit more confirmation than just a struggle at that level.