The USD/YEN confirmed a session of consolidation remaining interior the range of the previous day forming a new inside day with now 77,70 – 76,80 the levels to follow in the coming hours. Only a daily closing above 77,80 will support higher levels!
The indicators of the daily chart are still positive and also those of the s/t ones are above the line supporting further upside potential. Since long the move up started forming bearish divergences in the hourly chart supporting a positive tone.
While above the 200 hours line, today at 77,01, we expect therefore further strength. We keep staying on the sideline while following the inside day!
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FUTURE TREND RESEARCH