The yen fell , favorites of so-called carry trades, as a rally in stocks encouraged investors to boost holdings of higher-yielding assets funded in Japan's currency.
technical for the day(30.05.2008)
technical for the day(30.05.2008)
YEN chart pattern indicates the currency to be on bearish for the day. With the trading range is expected between 104.25-105.30 levels. currency lends its support at 104.20 levels and holds resistance at 105.40 levels. stochastic is trending downwards but a caution is given by momentum. Currency is trending after testing the upper Bollingers.
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