Japanese Yen strengthened considerably as economic fundamentals and investor sentiment soured. In focus is the key 90 level on the USD/JPY which will provide short term direction.
Technical Outlook
YEN R1: 90.80 S1:89.30
R2: 90.90 S2:89.20
yen chart pattern indicates the currency to be on a bear note for the day. Trading range for the day is expected between 89.40-90.60 levels .Currency is seen trading below the moving average giving bearish crossovers and parabolic is also supporting the bear note. Stochastic is trending down pointing towards downside correction.
YEN R1: 90.80 S1:89.30
R2: 90.90 S2:89.20
yen chart pattern indicates the currency to be on a bear note for the day. Trading range for the day is expected between 89.40-90.60 levels .Currency is seen trading below the moving average giving bearish crossovers and parabolic is also supporting the bear note. Stochastic is trending down pointing towards downside correction.
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