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PLNJPY Bounces Sharply Higher Amid Yen Weakness

POLAND
  • PLNJPY has been retracing sharply higher in the past two days driven by the significant yen depreciation following BoJ ‘greenlight’ for further JPY weakness.
  • PLNJPY found support at 28.62 yesterday and broke back above the 29 level in today’s trading session.
  • Next key resistance to watch on the topside stands at 30.
  • On the downside, support to watch below 28.62 stands at 28.3560 (200DMA).

Source: Bloomberg/MNI

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