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HUFJPY Approaching Key Resistance At 37.40

HUNGARY
  • The strong momentum on HUF combined with the recent sharp JPY depreciation have pushed HUFJPY above the 37 level, recovering completely from its February/early March losses.
  • Next key resistance to watch on the topside stands at 37.40, which corresponds to the LT downward trending resistance line.
  • On the downside, support to watch stands at 36.45, followed by 36.04 (200DMA).

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Source: Bloomberg

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