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CZKJPY Consolidates Below 5.30 Level

CZECHIA
  • ‘Risk on’ pair CZKJPY ticks lower this morning amid broad CEE FX consolidation, with the pair falling back below the 5.30 level.
  • CZKJPY found resistance at the 5.3180 level, which corresponds to the 76.4% Fibo retracement of the 4.8120 – 5.4750 range.
  • A break above that level would have opened the door for a move up to 5.40.
  • On the downside, support to watch stands at 5.2630 (50DMA).

Source: Bloomberg/MNI

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