Dollar could extend its gains against the yen if U.S. data this week is stronger than expected and supports views that the Fed may start raising rates later this year against the backdrop of rising oil and food prices.
Tech View:
yen is expected to be sideways for the day. currency is trading on the fast moving average and expected to give a fall since momentum trending downwards. stochastic is still in overbought area and signals for a downward correction in near term. the currency lends its support at 104.30 levels and holds resistance at 105.80 levels. trading range is expected between 104.40-105.70 levels
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