Japanese Yen crosses likes stocks had a roller coaster ride dropping during Asia and Europe before finishing NY on the bounce. January Corporate Goods Price Index dropped -0.2% Y/Y adding to speculation Japan might enter a deflationary Cycle. Looking ahead for are forecast to drop -0.6% vs. -1.2%.
Technical Outlook:
R1: 91.60 S1:90.30
R2: 91.80 S2:90.20
Yen chart pattern indicates the currency to remain bullish note . Trading range for the day is expected between 90.50 – 91.40 levels . Momentum and Stochastic are seen flat remaining silent on the issue but parabolic is supporting the bull note.
R2: 91.80 S2:90.20
Yen chart pattern indicates the currency to remain bullish note . Trading range for the day is expected between 90.50 – 91.40 levels . Momentum and Stochastic are seen flat remaining silent on the issue but parabolic is supporting the bull note.
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