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PLNJPY Trading Back To February Levels

POLAND
  • PLNJPY has been retracing slightly lower this week after finding resistance at 29.25 yesterday.
  • The ‘slight improvements’ in the Russia/Ukraine conflict combined with the sharp JPY depreciation last month have led to a strong rebound in ‘risk-on’ pair PLNJPY, which is currently trading at February levels.
  • Resistance to watch on the topside stands at 29.6020 (Feb 10 high).
  • On the downside, first support to watch stands at 29, followed by 28.55.

Source: Bloomberg

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