Japanese Yen strengthened as stocks slumped throughout the world. December Retail Sales dropped -2.7% . DECEMBER INDUSTRIAL OUT -9.6%.
Technical Outlook:
YEN R1: 90.40 S1:88.80
R2: 90.50 S2:88.70
yen chart pattern indicates the currency to remain sideways to bullish for the day. Trading range for the day is expected between 88.86–90.20 levels . Stochastic and momentum are seen trending down pointing a small downward correction but parabolic is supporting the bullish outlook.
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