Free Trial

Technical Analysis: PLNJPY Testing Its 29 Resistance

POLAND
  • USDPLN has been trending higher in the past few days after receiving support slightly below its 100DMA at 3.80; resistance to watch on the topside stands at 3.86 (50DMA). On the downside, next support to watch stands at 3.78 (200DMA).
  • EURPLN ticks higher this morning and is currently trading slightly above its 4.50 support (100D/200DMA); next level to watch below that stands at 4.45. On the topside, first resistance stands at 4.54 (100D/200DMA), followed by 4.56 (50DMA).
  • PLNJPY has been testing its 29 ST resistance in the past week; a break above that level would open the door for a move up to 29.37. On the downside, key support stands at 28.54 (200DMA).
  • PLNHUF ticks higher this morning and is gradually approaching its ST resistance at 77.62 (50DM); next level to watch on the topside stands at 77.87 (100DMA). On the downside, ST key support stands at 76.
  • CZKPLN continues to trade within a tight 10-pip range between 0.1773 and 0.1783. Key support to watch on the downside below 0.1773 stands at 0.1757 (200DMA). On the topside, next resistance above 0.1783 stands at 0.18.
  • GBPPLN ticks higher this morning after finding a local low at 5.24 earlier; ST resistance to watch on the topside stands at 5.29 (100DMA). On the downside, key support stands at 5.23, which corresponds to the 200DMA and the 38.2% Fibo retracement of the 4.80 – 5.49 range.

Source: Bloomberg/MNI

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.