Japanese Yen managed to gain after a week of losses as the speed of the decline finally caught up with the USD/JPY. January Unemployment improved to 4.1% vs. 4.4% previously and Retail Sales dropped.
Technical outlook:
R1: 98.10 S1:96.20
R2: 98.50 S2:96.05
Yen chart pattern indicates sideways movement for the day. day . Trading range for the day is expected between 96.50 – 97.95 levels . Momentum remains in neutral territory waiting for further signals from the market and currency is seen trading above the fast moving average yet cautions for sell off market in near term.
R2: 98.50 S2:96.05
Yen chart pattern indicates sideways movement for the day. day . Trading range for the day is expected between 96.50 – 97.95 levels . Momentum remains in neutral territory waiting for further signals from the market and currency is seen trading above the fast moving average yet cautions for sell off market in near term.
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