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MXNJPY Testing Above November Highs

  • MXNJPY has been firmly trending higher, supported by a resilient Peso following the December Banxico decision and the firm price action for global equity indices amid improved risk sentiment.
  • The string of positive sessions has resulted in MXNJPY currently testing above the November highs around 5.5856.
  • Further strength may target the downtrend resistance (drawn from the 2020 high) around 5.6350.

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