Japanese Yen was sold across the board as risk sentiment improved and the market bought up high yielding currencies. USD/JPY jumped above 90 as Equities rallied into the US session and extended gains after the FOMC minutes. Japan Retail Sales dropped -2.7% vs. -1.6% forecast.
Tech outlook:
YEN R1: 90.60 S1:89.10
R2: 90.80 S2:88.90
yen chart pattern indicates the currency to remain sideways to bullish for the day. Trading range for the day is expected between 89.20–90.50 levels . Stochastic and momentum are seen trending down pointing a small downward correction but parabolic is supporting the bullish outlook.
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