(99,33) The USD/YEN is confirming further strength after the strong weekly closing we had on Friday. A test of the 100 is possible with even a direct extension toward next target at 101,81. Europe and the US are however still running some gap ups that could be closed. The indicators of the daily chart are still well positive as well as those of the weekly one where we have however overbought conditions and still a negative reversal situation. The indicators of the s/t charts are also positive but overbought. Nevertheless while above 98,90 we expect further direct strength suggesting a 100 overshooting; if confirmed next resistance area of importance is found only above 101!! The slope of the move up is very steep and probably unsustainable.
Click here to read the full report: USDJPY 04.09
Future Trend Research