YEN R1: 109.70 S1:108.70
R2: 109.90 S2:108.50
chart pattern indicates mixed note for the day. With the trading range of 108.80-109.60 levels for the day. Stochastic shows a downtrend but raising Momentum gives a caution signal.
Technical view
The Japanese Yen gained across the board as banking write downs sparked a new wave of risk aversion. Q2 GDP came in at -0.6% and the Q2 GDP Deflator was slightly worse than forecast at -1.6% .·
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