USD/KRW may rise 687 - 987 pips

Our pivot point is at 1343.40.

Our preference

As long as 1343.40 is support look for 1358.40.

Alternative scenario

The downside breakout of 1343.40 would call for 1338.30 and 1335.40.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 1347.60 and 1345.90).

Supports and resistances

1364.40 **

1361.40 *

1358.40 **

1355.40

1348.53 last

1345.30

1343.40 **

1338.30 *

1335.40 **

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