(87,48) The USD/YEN confirmed the suggested session of consolidation yesterday forming a new inside day with 88,50 – 87,10 the levels to follow in the coming hours. A possible daily closing below 87,10 will support a deeper correction. However, the dollar already broke below a s/t support line, now resistance at 87,65; while below this level we expect a deeper dollar toward the 200 hours line at 86,97, but of course the downside potential is far greater. The indicators of the daily chart are still well positive but now less overbought however still showing potential negative reversals! The indicators of the s/t charts are instead negative supporting further consolidation/ correction. While below 87,65 on an hourly closing we expect the dollar to extend its correction.
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