Japanese Yen was sold as stock markets rallied across the world. Many market participants expect an Obama rally this week and this prompted short covering into the weekend. Looking ahead for November Industrial Output expected to be confirmed at -8.1%
Technical Outlook:
YEN R1: 91.90 S1:90.10
R2: 92.10 S2:90.00
yen chart pattern indicates the currency to be on a bull note for the day. Trading range for the day is expected between 90.20 - 91.80 levels . Stochastic is trending up pointing towards upward correction and the currency is seen trading between the moving averages
YEN R1: 91.90 S1:90.10
R2: 92.10 S2:90.00
yen chart pattern indicates the currency to be on a bull note for the day. Trading range for the day is expected between 90.20 - 91.80 levels . Stochastic is trending up pointing towards upward correction and the currency is seen trading between the moving averages
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