Japanese Yen although relatively unchanged against the USD, crosses were very buoyant as an increase in risk appetite saw the Yen sold quite aggressively. Looking ahead for December Current Account is forecast at -78 vs. -65.9 while Machine Orders are forecast at -8.8% vs. -16.2% previously
Technical Outlook:
Technical Outlook:
R1: 92.40 S1:90.50
R2: 92.50 S2:90.40
yen chart pattern indicates the currency to remain bearish for the day. Trading range for the day is expected between 90.70 – 92.30 levels . Stochastic and momentum are seen trending down and is expected to give a small consolidation .
R2: 92.50 S2:90.40
yen chart pattern indicates the currency to remain bearish for the day. Trading range for the day is expected between 90.70 – 92.30 levels . Stochastic and momentum are seen trending down and is expected to give a small consolidation .
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