JPY weakened against the greenback as risk appetite saw the return to carry trades. The market continued its focus on the high yielding currencies like the Aussie and Kiwi, pushing the yen lower. Looking ahead for the day core CPI is to be released on Friday with forecasts predicting an increase from 1% in March to 1.2%
Tech view
Yen is seen on uptrend for the day. Candle pattern shows the currency has opened above the previous close and expects the bull trend to continue . Momentum is trending strong and thereby supports currency to remain on upper side. the stochastic also remains the same. currency sees its support at 102.80 levels and holds resistance at 104.40levels. the trading range is expected to between 102.90 -104.20
Yen is seen on uptrend for the day. Candle pattern shows the currency has opened above the previous close and expects the bull trend to continue . Momentum is trending strong and thereby supports currency to remain on upper side. the stochastic also remains the same. currency sees its support at 102.80 levels and holds resistance at 104.40levels. the trading range is expected to between 102.90 -104.20
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