The USD/YEN confirmed a negative weekly closing and also the daily one was weak hitting again the 77,00 area. We expect some support around this level from where we should be able to see a rebound.
The indicators of the daily chart are still in positive territory as well as those of the weekly one. We have instead negative indicators on the s/t charts supporting further weakness. The decline started again to form bullish divergences in the hourly chart suggesting that the decline could again not be over yet. In the s/t, only an hourly closing above 77,30 will support a correction with the 200 hours line at 77,81 the possible attraction.
We keep staying on the sideline.
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