The yen gained for a third day on speculation European banks will disclose increasing losses due to the financial crisis in the region and on concern stock declines will spur investors to sell higher-yielding assets they bought with funds from Japan.
Technical Outlook:
R1: 92.90 S1:91.60
R2: 93.00 S2:91.50
yen chart pattern indicates the currency to have a upward movement for the day. Trading range for the day is expected between 91.80-92.80 levels. Stochastic is seen flat and the currency is expected to have a resistance at the upper bollingers.
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