Japanese Yen continued to test the upside losing value against all crosses as more risk taking entered the market and investors flooded back to high yielding currencies. AUD/JPY and CAD/JPY were major improvers overnight.
Technical Outlook:
YEN R1: 93.90 S1:92.30
R2: 94.00 S2:92.20
yen chart pattern indicates the currency to move sideways for the day. Trading range for the day is expected between 92.40-93.80 levels .Currency is seen trading above the moving average and parabolic is also supporting bull note. But stochastic is trending down pointing towards a small downside correction.
R2: 94.00 S2:92.20
yen chart pattern indicates the currency to move sideways for the day. Trading range for the day is expected between 92.40-93.80 levels .Currency is seen trading above the moving average and parabolic is also supporting bull note. But stochastic is trending down pointing towards a small downside correction.
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