Japanese Yen strengthened against the EURO and AUD during the early European session on reports of large Japanese selling in both. Better than expected US data prompted rallies in the USD/JPY back to familiar territories. yen chart pattern indicates the currency to remain bullish for the day. Trading range for the day is expected between 88.80 – 89.80 levels . Stochastic and momentum are seen trending up giving a upward correction but only break of the fast moving average level of 89.60 would confirm the trend.With R1: 90.00 and R2: 90.20, S1:88.70 and S2:88.50
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