Yen outlook-Mar 31

JPY had a mixed data with the Unemployment rate jumping to 3.9% whilst Household spending figures were flat at 2.4% for the month of February. On a positive note, CPI figures though were higher at 1.0% (fastest pace in a decade) as Retail Sales figures were also strong at 1.3%, with growing views that the BOJ will not move until the second half of 2008.Yen is expected to trade in the range of 98.50-100.60.With key support seen at 98.40 and resistance at 100.80.Currency is expected to give a upward corrections for the day .But the currency is trading well above the exponential moving average giving clues for the currency to give a upward movement. stochastic and Relative Market strength are also supporting the bull trend.