Yen made solid gains yesterday as risk aversion returns on UK banking fears and European and US equities tumbled. Looking ahead for Japanese Monetary Base.
Tech View:
Yen chart pattern predicts the movement to be on downside for the day. support for the currency is seen at 103.50 levels and resistance is seen at 105.20 levels. trading range is expected between 103.60-105.10 levels for the day. RSI signals the currency to move on bear note for the day. MACD crossover clues for the downtrend to continue and currency below the fast moving average is noted for further confirmation of bear note.
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