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HUFJPY Approaching 37 Support

HUNGARY
  • HUFJPY consolidates sharply today amid HUF weakness, currently trading slightly above the 37 level.
  • A break below that level would open the door for a move down to 36.67 (100DMA), followed by 36.55 (38.2% Fibo retracement of the 33.03 - 38.72 range, and LT upward trending support line).
  • On the topside, first resistance to watch stands at 37.63 (50DMA). (Scale * 100).

Source: Bloomberg/MNI

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