(86,40) The USD/YEN is further extending its move up but the slope is now starting to get steep. Nevertheless we could well see a direct 87,00 overshooting. At the present levels Europe and the US will start with another gap up and if we consider that we are in an extreme overbought situation on can imagine that the gap will be closed, sooner or later, but for sure but the speed will be higher than what we saw on the way up!!!! The indicators of the daily chart are still well positive and still heavy overbought! The indicators of the s/t charts are also positive and overbought. Possible a direct extension toward the 87,00/20 resistance area where we suggest going short. We will sell just small in case of a 87,00 overshooting because we already short in the crosses.
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