YEN

JPY held firm between a defined range tracking equity markets. Currency fell against all 16 most- active currencies on speculation Japanese investors are sending more money overseas in search of higher returns in the fiscal year starting today. Reuters Tankan Survey for the first quarter was released below expectations at 11 (Forecasts: 13; Previous: 19).

TECHNICALS FOR THE DAY

Yen is expected to trade in the range of 99.40-100.60.With key support seen at 99.20 and resistance at 100.80.Currency is expected to give a upward corrections for the day . currency is trading well above the 10 days moving average giving clues for the currency to give a upward movement but it is expected to test the lower range of 99.40 and then go for the bull run .stochastic and Relative Market strength are also supporting the bull trend.