JPY strengthened through the Asian session breaking through 101 BOJ President spoke on the yen testifying that the economy is unlikely to face a severe downturn and will return to its trend growth rate.
TECHNICAL FOR THE DAY
Yen is expected to be range bound with trading range of 101.20-102.70. Good support for the currency is seen at 101.00 levels and 102.90 levels holds as a key resistance .stochastic and Relative Market strength index is giving an indication for the currency to be on a uptrend for the day. yen is seen trading well above the fast moving averages confirming the trend.
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