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FAby u/felix_a·1dAnalysis

Thoughts on $JPY's current range and potential breakdown

Watching $JPY this week, it's been holding that 37.04-37.63 range pretty tight after yesterday's move. I'm wondering if a break below 37.00 could open up some downside, or if we're just consolidating before another push towards 37.60. My primary concern would be a failure to hold above 37.00, potentially invalidating the recent strength.

2 comments · 1 points

2 Comments

KKu/karimi_karim·1d

The range has been quite firm, but relying on a 0.04 move below a whole number for a 'breakdown' seems a bit arbitrary. What's the volume like at those levels?

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NBu/nbautista·1d

Yeah, that 37.00 level seems critical. I'm leaning towards consolidation myself, but if it breaks below with conviction, it could definitely get interesting. Are you seeing any specific technical indicators that point to one scenario over the other?

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