Japanese Yen tracked equity markets to weaken in the US session as risk appetite improved and banking stocks rallied. USD/JPY jumped towards 99 although sluggishness in the EUR/JPY meant gains were limited. March Trade Balance was at 11Bn vs. -5Bn Yen forecast.
Technical Outlook
R1: 99.10 S1:97.65 R2: 99.25 S2:97.50
Yen chart pattern indicates bearish move for the day . Trading range for the day is expected between 97.80 99.00 levels . Stochastic and momentum are seen trending down and currency is also trading below the moving average level giving bearish crossovers
Yen chart pattern indicates bearish move for the day . Trading range for the day is expected between 97.80 99.00 levels . Stochastic and momentum are seen trending down and currency is also trading below the moving average level giving bearish crossovers
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