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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
Spot JPY/KRW failed to make much headway beyond its previous YtD low printed on Apr 6, as it sold off in the second half of May. After registering fresh YtD trough at KRW10.0902, the rate has recovered somewhat, but failed to take out the 38.2% retracement of the May 17 - Jun 1 slide at KRW10.2208.
- The rate now hovers within fairly close proximity to its YtD lows, last -0.0157 at KRW10.1637. A break here is needed to revive the bearish case. Conversely, a clearance of the aforementioned 38.2% Fibo level would shift bullish focus to the 100-DMA, which limited gains on May 17 and last intersects at KRW10.3649.
Fig. 1: JPY/KRW
Source: MNI - Market News/Bloomberg
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.
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