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BoJ Decision, Japan's Retail Sales Eyed


(Z1) Downside Pressure Resumes

KOREAN WON: USDKRW is trading at its daily lows of 1119.0, with bears looking to
test yesterday's low of 1116.0 in order to strengthen the case for a reversal
pattern. The daily high of 1125.0, which corresponds to yesterday's low, will be
a tough hurdle for the bulls to overcome. 
- EURKRW continues to trend lower in what looks like an impulsive move with
further downside to come. The pair trades as 1304.3, having fallen 1.7% on the
week. A break of the 200DMA at 1301.2 will be the next hurdle for the bears to
overcome. The fundamentals point to further downside for the pair as the BOK
seems much more likely to make a hawkish shift than the ECB, and Korea's real
yield advantage continues to wide.
- CNHKRW is trading right on uptrend support from the March 2017 lows, currently
at 164.40, and a break of this level would target a move to 163.00. 
- KRWJPY is trading in choppy fashion at 9.910 currently, with bulls looking to
break above yesterday's high of 9.945 to regain the short-term uptrend, and
bears needing move below yesterday's low of 9.863 to make way for a retest of
the July 24 lows of 9.770.