Yen rises on assumption recent drops were too quick

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Source: Bloomberg
The Japanese Yen gained versus the Euro and trimmed drops against the U.S. Dollar as technical indicators showed recent declines were too rapid. The Yen advanced as much as 0.4% to 126.21 per Euro at 1:50 p.m. in Tokyo from the previous week, when the currency dropped to 126.97, the lowest since April 2010. It rose 0.1% to 92.65 per U.S. Dollar, after trading at 92.97 on February 1, the lowest since May 2010.
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