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The CNHKRW has broken out of its short...>

CHINA YUAN
CHINA YUAN: The CNHKRW has broken out of its short term trading range to the
upside as the triple bottom target at the 168 area approaches. Bears need to
close below the 200-dma at 165.35 to shift the outlook negative. 
- The recent solid yuan outperformance against the won has largely gone under
the radar and has not been triggered by any major headlines. The move likely
reflects a mean reversion from 11 year lows following the technical failure to
break back below long term support around 160.00. 
- The next upside target is down trendline resistance from the March 2016 highs
which comes in at around 167.50. 

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