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Technical Analysis: PLNJPY Finds Support At 200DMA

POLAND
  • USDPLN ticks lower this morning and is currently testing its 3.83 support; a break below that level would open the door for a move down to 3.80 (100DMA). On the topside, first resistance stands at 3.85, followed by 3.90.
  • EURPLN has been retracing lower in the past few days after failing to break through its 4.60 resistance last week; the pair is currently testing its 4.55 support (100DMA), a break below that level would open the door for a move down to 4.53 (200DMA).
  • GBPPLN ticks higher this morning after finding a local low at 5.32 yesterday; first support wo watch on the downside stands at 5.29 (100DMA). On the topside, key ST resistance remains at 5.40.
  • CZKPLN has been consolidating lower in the past few days after failing to break through its 0.18 resistance last week; ST support to watch on the downside stands at 0.1780, followed by 0.1774 (50DMA). On the topside, key resistance remains at 0.1834, which corresponds to the pair's all time high reached in December 2011.
  • PLNHUF has been consolidating lower in the past few days and is currently testing its 50DMA at 78; a break below that level would open the door for a move down to 77.54. On the topside, first resistance to watch stands at 78.37 (100DMA), followed by 79.
  • PLNJPY ticks higher this morning after finding support at its 200DMA (28.41); ST resistance to watch on the topside stands at 28.61, followed by 28.86 (100DM). On the downside, ST key support to watch below 28.41 (200DMA) stands at 28.19, which represents the 38.2% Fibo retracement of the 25.12 – 30.09.

Source: Bloomberg/MNI

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