Japanese Yen strengthened as the USD slumped with support found at 94.50. US stocks rallied and the increase in treasury yields led to a powerful US session rally to just below 97 Yen. Crosses used the move to catapult to fresh year highs.
Technical Outlook:
chart is expected to have a bullish correction for the day . With the trading range between 96.05- 97.10 levels. Stochastic and Relative strength index are seen trending up .Momentum is also supporting the same . Good support is seen at 95.80 levels and key resistance is seen at 97.40 levels for the day.
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