I'm expecting the downside for this pair (as well as for EURMXN & CHFMXN) to be limited now (as Crude Oil is most probably just on a temporary up-rally right now; before it will start to fall lower once again)...
The USD might also be set to strengthen more in the upcoming future too...
Also refer to USDRUB, EURRUB & USDCAD, EURCAD (pairs which I trade too) for reference...
MXNJPY could start to drop even further too...
The strength of the MXN is highly influenced by the price of Crude Oil (just like the RUB & CAD)...
The USD might also be set to strengthen more in the upcoming future too...
Also refer to USDRUB, EURRUB & USDCAD, EURCAD (pairs which I trade too) for reference...
MXNJPY could start to drop even further too...
The strength of the MXN is highly influenced by the price of Crude Oil (just like the RUB & CAD)...
