Japanese Yen also rallied against the dollar in reaction to the FOMC plan to buy bonds, coupled with repatriation of funds by Japanese businesses ahead of the end of year (Fiscal) on March 31st.
Technical Outlook:
R1: 95.30 S1:93.50
R2: 95.50 S2:93.30
Yen chart pattern indicates sideways for the day . Trading range for the day is expected between 93.60 – 95.20 levels . Stochastic and momentum are seen flat and currency is expected to give a slight upward correction as profit booking for the fall.
R1: 95.30 S1:93.50
R2: 95.50 S2:93.30
Yen chart pattern indicates sideways for the day . Trading range for the day is expected between 93.60 – 95.20 levels . Stochastic and momentum are seen flat and currency is expected to give a slight upward correction as profit booking for the fall.
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