Japanese Yen fell heavily as Global stocks weakened with the break of the key 100 level enticing further selling. Crosses were led down by the EUR/JPY falling from 134 to 131.50. Poor US data reignited risk aversion and the Yen finished the day on a strong footing.
Technical Outlook:
R1: 99.10 S1:98.05 R2: 99.15 S2:98.00
Yen chart pattern indicates bearish move for the day . Trading range for the day is expected between 98.10 99.00 levels . Stochastic and momentum are seen trending down and currency is also trading below the moving average level giving bearish crossovers
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment