Japanese Yen held the 97-98 range but strengthened against most currencies as the overwhelming stock market losses brought the old correlations back into play. GBP/JPY was the worst performer as investors bailed out of the pound
Technical Outlook:
R1: 98.10 S1:96.60
R2: 98.156 S2:96.50
Yen chart pattern indicates a consolidation phase and a sideways movement for the day . Trading range for the day is expected between 96.70 – 98.01 levels . Momentum and stochastic is seen flat so bias remains neutral for the day. Parabolic is supporting the bull note in near term
R1: 98.10 S1:96.60
R2: 98.156 S2:96.50
Yen chart pattern indicates a consolidation phase and a sideways movement for the day . Trading range for the day is expected between 96.70 – 98.01 levels . Momentum and stochastic is seen flat so bias remains neutral for the day. Parabolic is supporting the bull note in near term
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