Japanese Yen broke above 95 on the USD/JPY and dragged all the crosses higher. With stocks rallying the pair extended gains to fall just short of 97. Looking ahead for January Trade Balance forecast at -1.1Tn vs. -320Bn previously
Technical Outlook:
R1: 97.80 S1:96.10
R2: 97.90 S2:96.00
Yen chart pattern indicates a bullish crossovers for the day . Trading range for the day is expected between 96.20 – 97.70 levels . Momentum are seen trending up and currency is seen trading above the moving average giving indication of a bull run . Parabolic is also supported the same
R1: 97.80 S1:96.10
R2: 97.90 S2:96.00
Yen chart pattern indicates a bullish crossovers for the day . Trading range for the day is expected between 96.20 – 97.70 levels . Momentum are seen trending up and currency is seen trading above the moving average giving indication of a bull run . Parabolic is also supported the same
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