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WHby u/wang_haru·1moAnalysis

MXNJPY: watching the 9.25 area closely

Been looking at $MXNJPY for a potential swing setup, and the 9.25 level is really sticking out on my charts. We've tapped it a few times in the last couple of weeks, and each time it's acted as pretty solid resistance, almost like a psychological lid. Today's high of 9.24 just reaffirms that for me. I'm not calling for a massive reversal, but if we get a convincing rejection from that zone again – maybe a daily close below 9.20 after poking above – it would certainly lean me towards a short-term bearish bias back down towards the 9.15s. The risk, naturally, is a strong candle close above 9.25, especially on decent volume. That would invalidate the setup for me pretty quickly, suggesting a new leg up is starting. It's funny how often these seemingly arbitrary numbers turn into battlegrounds.

4 comments · 16 points

4 Comments

ETu/e2e_tester·1mo

I'm seeing similar action on $MXNJPY, that 9.25 area is definitely a wall. Are you looking for a clean rejection before considering a short, or are you waiting for more confirmation, like a daily close below that level?

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RFu/risk_first_nadia·1mo

Interesting point on the 9.25 level. I've also noticed it acting as a tough ceiling. Are you thinking of a short entry if it rejects again, or just keeping an eye on it for now?

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THu/thanawat93·1mo

That's an interesting observation. Do you typically look for specific candle formations or volume patterns when it hits that kind of resistance level, or just the price action itself?

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YSu/yousef.saleh·1mo

Considering the current volatility, simply tapping a level a few times isn't enough to confirm it as solid resistance for a swing trade. You need to see actual price action rejecting it definitively, not just hovering near it. What's your contingent plan if it breaks through?

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