(89,85) The USD/YEN confirmed a negative closing before however confirming an important rebound today that favoured a retest of the 89,90 level. Possible further strength toward 91 but we believe the s/t upside potential is limited even despite the talking out of Japan!! The indicators of the daily chart are still well negative but those of the s/t ones are in positive territory suggesting further strength. The indicators of the hourly chart are however overbought and showing potential negative reversals; however, also here the previous drop failed to form clear bullish divergences. Nevertheless we keep staying short and even wait for a possible move beyond 90,25 to increase the position for a drop toward 87,50!!
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Future Trend Research