The Yen has initially managed to respect the prior session’s low but a decline in Japanese April wageslooks to leave the path of least resistance pointing downward. 
With the big range down failure yesterday leavingthe Yen in the middle of the last 4 months consolidation zone, there might not be much in the way of chart supportin the June yen until the 97.37 level.
Technical Outlook: The major trend has turned down with the cross over back below the 60-daymoving average. A negative indicator was given with the downside crossover of the 9 and 18 bar moving average.Stochastics trending lower at midrange will tend to reinforce a move lower especially if support levels are takenout. The intermediate trend has turned down with the cross over back below the 18-day moving average. Therecould be some early pressure today given the market’s negative setup with the close below the 2nd swingsupport. The next downside target is now at 97.08. The next area of resistance is around 98.00 and 98.49, while1st support hits today at 97.30 and below there at 97.08.