(87,78) The USD/YEN confirmed yesterday a negative closing and even a small negative day reversal, but the move above 87,35 already aborted the idea of a possible s/t top. Instead we should see higher levels toward our s/t target at 87,97 if not even a direct 88,00 overshooting!! The indicators of the daily chart are still well positive and heavy overbought showing also potential negative reversals. Those of the s/t ones are also still positive with bearish divergences confirming the positive tone. The move above 87,35 confirmed also a new positive reversal with target 88,30!! While above 87,35, the European market will start again the session with a gap up!! We want to start with a small short position even if we still believe we could see a direct 90 overshooting!! We could, but……… We sold small at 87,77.
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