(97,13) The USD/YEN is consolidating interior an inside day with 98,25 – 96,90 the levels to follow. A daily closing below 96,90 will support an extension of the decline toward the key level of a potential double top formation at 95,89!! The indicators of the daily chart are still well negative while those of the s/t ones are showing a mixed picture suggesting some consolidation/ correction. Bullish divergences in the hourly chart still support a negative tone. Only an hourly closing above 97,70 will postpone further weakness favouring a rebound with the 200 hours line at 98,51 the attraction!! While below we expect the confirmation of our s/t target.
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Future Trend