Japanese Yen gave up some of the substantial gains as stocks retraced some losses and profit taking pushed the USD/JPY back above 90 after testing the Key level. Looking ahead, Corporate Goods Price are forecast to drop -0.6% vs. -1.2%.
Technical outlook:
YEN R1: 90.60 S1:89.30
R2: 90.80 S2:89.20
Yen chart pattern indicates the currency to remain bearish note for the day giving a bearish crow pattern . Trading range for the day is expected between 89.40 – 90.40 levels . Momentum are seen trending down and is expected to give a small consolidation and Relative strength index is also supporting the same .
YEN R1: 90.60 S1:89.30
R2: 90.80 S2:89.20
Yen chart pattern indicates the currency to remain bearish note for the day giving a bearish crow pattern . Trading range for the day is expected between 89.40 – 90.40 levels . Momentum are seen trending down and is expected to give a small consolidation and Relative strength index is also supporting the same .
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