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Technical Analysis: CZKJPY Approaching Its 200DMA Support

CZECHIA
  • USDCZK has been trending sharply higher in recent days, breaking above its 22 resistance this morning; next resistance to watch on the topside stands at 22.35. ST support to watch on the downside stands at 21.74, followed by 21.63 (50DMA).
  • EURCZK has been consolidating higher this morning, failing to break its 100DMA at 25.48 earlier; next resistance to watch on the topside stands at 25.73 (200DMA). Key ST support to watch on the downside stands at 25.25.
  • GBPCZK has been trending higher in the past week, breaking above its 200DMA this morning; next resistance to watch on the topside stands at 30. On the downside, first support stands at 29.75 (50DMA), followed by 29.50.
  • CZKPLN ticks lower this morning after finding a local high at 0.1822 earlier; ST support to watch on the downside stands at 0.1798 (50DMA), followed by 0.1785 (100DMA). On the topside, key resistance remains at 0.1834, which corresponds to the pair's all-time high.
  • CZKHUF has been trending higher this week, gradually its 14.2250 resistance, which corresponds to the pair's all time high. On the downside, first support stands at 14.03, followed by 14.
  • CZKJPY has been retracing lower this morning, gradually approaching its 200DMA support at 5.0450; a break below that level would open the door for a move down to 5. On the topside, first resistance stands at 5.10 (LT downward trending resistance line), followed by 5.13 (100DMA). (chart below).

Source: Bloomberg/MNI

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