Tuesday, May 6, 2008

YEN TRACKING MAJORS

JPY tracked other majors as Japanese markets remained closed for the day. Upon positive readings in US ISM services the .Japanese markets will remain closed on Tuesday.

TECH OUTLOOK
YEN chart indicates the currency to have an upward correction in near term . Currency sees support at 104 levels and resistance at 105.20 levels. The trading range is expected between 104.20-105.10 levels. Momentum remains in neutral territory and RSI supporting the same and the currency is also seen trading above the fast moving averages confirming the trend.

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