(97,70) The USD/YEN confirmed on Friday a very weak closing well below the previous session’s low but also well below the 98,45 level. We can expect further weakness toward the key level at 95,90; a break also below this level will confirm a double top formation supporting a drop toward 92!! The weekly closing was negative forming a negative week reversal!! A weekly closing next Friday below 97,55 will confirm a s/t top!! The indicators of the daily chart have turned below the line but those of the weekly one are still well into positive territory and still at overbought levels!! The indicators of the s/t charts are negative with clear bullish divergences in the hourly chart supporting a negative tone. Possible rebounds are now corrective and selling opportunities!! We stay on the sideline.
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