(95,36) The USD/YEN confirmed a strong closing last night above the resistance of the negative outside day suggesting higher levels toward a potential target at 98,08!! The attraction of the 95 level was too strong but at this point we could well see another correction. The indicators of the daily chart are now turning above the line and also those of the s/t ones are in positive territory supporting further strength. In the hourly chart we have overbought conditions that could now limit further strength. We are disappointed that the dollar did not confirm a deeper correction but for the moment the trend is again up. Possible correction should find support already at 94,80 while the 200 hours line is found only at 93,07. We wait for a decent correction to take back the shorts!
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Future Trend Research