(97,96) The USD/YEN confirmed a further negative closing also last night remaining therefore under some pressure. At the present level the monthly closing will be strong, well above the top of the previous month!! The indicators of the daily chart are still well negative while those of the monthly one are above the line but close to the overbought area if not already overbought and however showing negative reversals. The indicators of the s/t charts are showing a mixed picture suggesting further consolidation for today with however a downside bias. Only an hourly closing above 98,20 will favour a little higher levels with the 200 hours line at 98,88 the possible attraction!! A break below 97,45 will instead confirmed a negative reversal suggesting a s/ target at 96,69!! We stay on the sideline.
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