USD/KRW may rise 519 - 769 pips

Our pivot point stands at 1384.30.

Our preference

As long as 1384.30 is support look for 1396.30.

Alternative scenario

The downside breakout of 1384.30 would call for 1380.10 and 1377.60.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1387.90 and 1384.50).

Supports and resistances

1401.20 **

1398.80 *

1396.30 **

1393.80

1388.61 last

1386.00

1384.30 **

1380.10 *

1377.60 **

Number of asterisks represents the strength of support and resistance levels.