USD/JPY Technical Analysis

(88,61) The USD/YEN confirmed a negative closing missing a weak one; we could however still see some s/t pressure for a test of the 87 area! The indicators of the daily chart are however still well negative at the moment, while those of the s/t ones are showing a mixed picture. The drop below 88,00 formed however bullish divergences suggesting a possible change of the tone to negative favouring therefore further downside risk. In the hourly chart we have already negative reversal with however modest downside potential. We prefer therefore avoiding to increase our position that for the moment we keep. A return below the 200 hours line at 88,37 will resume the decline!

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