Japanese Yen was sold all day as Japan was away on holidays and sentiment/stocks improved. USD/JPY tested 98 on the topside and EUR/JPY reclaimed 130 after trading at 125 just 2 days ago. Industrial Production (March) rose 1.6% but the Jan-March Quarter was the steepest drop on record. Looking ahead, BOJ Rate Decision forecast to remain 0.1%
Technical Outlook:
R1: 98.30 S1:97.00
R2: 98.45 S2:96.90
Yen chart pattern indicates bearish move for the day . Trading range for the day is expected between 97.05 – 98.20 levels . Stochastic and momentum are seen trending down but currency is trading on the moving average level only break below it can confirm the trend.
R1: 98.30 S1:97.00
R2: 98.45 S2:96.90
Yen chart pattern indicates bearish move for the day . Trading range for the day is expected between 97.05 – 98.20 levels . Stochastic and momentum are seen trending down but currency is trading on the moving average level only break below it can confirm the trend.
No comments:
Post a Comment