(92,57) The USD/YEN confirmed finally a weak closing on Friday, well below the previous few sessions. In the weekly chart it even formed a negative week reversal but only a weekly closing below 91,98 will confirm a top supporting a deeper correction, scenery that we still favour. The indicators of the daily chart turned again below the line supporting further consolidation/ correction, while those of the weekly one remain well positive but still well overbought and showing potential negative reversals. The indicators of the s/t charts are negative this morning supporting further weakness. In the hourly chart we have a potential S_H_S formation with the neck line at 92,20; an hourly closing below this line will support further direct weakness suggesting a move toward 90,50!! Only a move above 92,95 will postpone further weakness. We stay on the sideline expecting lower levels!!
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