Japanese Yen was extremely volatile with USD weakness and slumping stocks sending the pair back under 97 before a late Equity rally and saw both the USD/JPY and crosses ending higher. Looking ahead, January Current Account previously at -92.1%.
Technical Outlook:
R1: 98.70 S1:97.50
R2: 98.90 S2:97.30
Yen chart pattern indicates sideways movement for the day . Trading range for the day is expected between 97.70 – 98.60 levels .Stochastic and Momentum are seen trending down only crossovers can confirm the view and currency is seen trading between the moving average giving sideways outlook.
R1: 98.70 S1:97.50
R2: 98.90 S2:97.30
Yen chart pattern indicates sideways movement for the day . Trading range for the day is expected between 97.70 – 98.60 levels .Stochastic and Momentum are seen trending down only crossovers can confirm the view and currency is seen trading between the moving average giving sideways outlook.
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