The dollar fell into the upper 107 yen range after trading at the lower 108 yen level as some investors sold it to secure gains amid a dearth of market-moving events.
Tech View:
Yen chart pattern gives indication of a small bearish correction for the day. support is seen at 107.20 and holds resistance at 108.70.Trading range is expected between 107.30-108.50 levels for the day. Stochastic and Momentum are signaling towards a downside market correction. But currency is still trading well above the moving averages,only a breach below it can confirm the trend.
Yen chart pattern gives indication of a small bearish correction for the day. support is seen at 107.20 and holds resistance at 108.70.Trading range is expected between 107.30-108.50 levels for the day. Stochastic and Momentum are signaling towards a downside market correction. But currency is still trading well above the moving averages,only a breach below it can confirm the trend.
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