Yen edged higher throughout the day on the back of a buoyant dollar and reports that the Chinese Yuan would appreciate by 7% throughout the year. Yen is expected to trade in the range of 103.80-105.30 .With good support seen at 103.60 levels and key resistance is seen at 105.50.Currency is seen trading above the fast moving averages and is trying to test the upper bollingers giving an bullish outlook.Relative Market strength index is in neutral territory.Daily stochastic is hinting towards the bull run to continue for the day.
Tuesday, May 13, 2008
yen edged higher
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