TECH VIEW APR 06 2009
YEN R1: 101.60 S1:99.80
R2: 101.80 S2:99.70
yen chart pattern indicates the currency to have a upside movement for the day. Trading range for the day is expected between 99.90-101.50.levels. Stochastic is seen trending up giving room for a bullish correction.
yen slid to a five- month low as stocks rallied on speculation the global financial crisis is easing, damping demand for the currency as a refuge. The yen fell against all of the 16 most-actively traded currencies, sliding against New Zealand’s dollar to the lowest since November, on expectations Federal Reserve Governor Kevin Warsh will signal today credit markets are thawing.
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