Japanese Yen with stocks providing little direction the majors led the way in deciding direction for the Yen today. With the Euro rally the EUR/JPY found legs surging above 1.2900 while USD/JPY dipped below 90 briefly. Late USD strength saw the USD/JPY recover but most crosses eased back as their respective majors tested lows.
Technical Outlook
R1: 91.20 S1:89.75
R2: 91.30 S2:89.60
yen chart pattern indicates the currency to have a downside movement for the day. Trading range for the day is expected between 90.00-91.10 levels. Stochastic is seen trending up giving room for a bullish correction.
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