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.
JPY/KRW charted a bearish Harami candlestick pattern yesterday, after struggling to take out the 23.6% recovery of the Aug 21 - Dec 4 sell-off at KRW10.5922, with the 50-DMA intersecting just above there at KRW10.6064, adding to the significance of that resistance area. The rate last deals -55 pips at KRW10.5405, with bulls looking for a break above the aforementioned levels. A clean break here would give them a green light for targeting the 38.2% retracement of the Aug 21 - Dec 4 sell-off/Dec 22 peak at KRW10.7221/10.7246. However, if selling pressure mounts further, bears would target Jan 4 low of KRW10.4921, followed by broken channel resistance/support at KRW10.0872, which cushioned losses into the end of 2020/in early 2021.
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.