Japanese Yen had a mixed day gaining heavily against the USD but losing ground against the Euro. USD/JPY slid to support around 95.70 before consolidating while the crosses grinded higher with EUR/JPY testing 130 in early Asia. The BOJ held rates at 0.1% but also announced a series of measures to help support the bond market .
Technical Outlook:
R1: 96.90 S1:95.20
R2: 97.00 S2:95.00
Yen chart pattern indicates downside trend for the day . Trading range for the day is expected between 95.40 – 96.80 levels . Stochastic and momentum are seen trending up for the near term and currency is trading below the moving average restricting the uptrend.
R2: 97.00 S2:95.00
Yen chart pattern indicates downside trend for the day . Trading range for the day is expected between 95.40 – 96.80 levels . Stochastic and momentum are seen trending up for the near term and currency is trading below the moving average restricting the uptrend.
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