JPY weakened against the dollar as rallies in U.S, European and Asian equity markets prompted investors to take on carry trades through currencies such as the kiwi and Aussie dollar
TECHNICAL DAY FOR THE DAY
Yen is expected to trade in the range of 101.80-102.80.Good resistance is seen at 103 levels .key support is seen at 101.60 .currency is expected to be on a mixed note for the day .JPY lies well above the Moving averages which are giving bullish crossovers .But Relative Market Strength index and Stochastic are cautioning towards the possibility of small market correction
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