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MXNJPY Resistance Near 9.26 – Worth Watching
Been keeping an eye on $MXNJPY. We saw that rejection off the 9.26-9.262 area today, which is pretty consistent with what's been acting as resistance for a bit now. It seems to be the ceiling. I'm thinking if it breaches 9.265 meaningfully, with some conviction, then the short-term landscape changes. Otherwise, we might be looking at a bit of a grind around these levels until something fundamental shifts the narrative.
My invalidation for any bearish lean here would obviously be a sustained break and close above that 9.265 mark. Below that, it's just noise, as far as I'm concerned, but above it, well, then I'd have to reconsider what's driving it.
1 comments · 1 points
It's been a clear level, but a break above 9.265 isn't necessarily a sustained run. There's plenty of historical resistance just above there too, so I wouldn't call a move above 9.265 a guaranteed shift in landscape without seeing how it reacts to 9.28-9.30.