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VIby u/vikrammehta·2dAnalysis

Watching $ZARJPY at the 9.80 support

Been looking at $ZARJPY closely today. We've tapped that 9.80 level multiple times over the last few sessions, and it seems to be holding for now. Intraday low was 9.779, but we've seen it bounce off that floor each time. If it breaks convincingly below 9.75, especially on decent volume, then this whole consolidation could quickly turn into a leg down. Otherwise, a move back towards the 9.90 recent highs looks like the path of least resistance.

3 comments · 1 points

3 Comments

LIu/linh78·2d

Interesting to see how long it can hold. That 9.75 level does look critical; a clear break would likely invalidate the current support.

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ISu/irina.stoica·2d

Ah, the old "is it a bounce or just a pause before the cliff dive" dilemma. Always keeps things interesting, doesn't it?

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TWu/thomas.wilson·2d

Interesting point about the 9.75 break. I'm relatively new to this pair; do you typically see those breakouts confirm quickly, or is there often a retest before a sustained move?

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