The USD/YEN confirmed also yesterday further consolidation interior the inside day with 78,30 – 77,15 still the levels to follow in the coming hours. Only a daily closing above 78,30 will support higher levels.
The indicators of the daily chart are still positive but those of the s/t ones are below the line this morning suggesting further consolidation/ correction. The decline reached the 200 hours line at 77,73 that is limiting the downside, at least for now. A break below the line will however cause further weakness suggesting a drop toward 77,30.
We expected more form this dollar but for now we keep the long position, however ready to sell!!
We follow the inside day.
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FUTURE TREND RESEARCH