(102,17) The USD/YEN confirmed another strong closing after a test of the 102,40 area where it found good resistance. It even formed a positive outside day with 102,55 – 102,15 now the levels to follow in the coming hours. Only a daily closing above 102,55 will support further strength; a failure to break above 102,50 will instead support a new correction, this time toward the gap up area 100,88 – 99,42. The indicators of the daily chart are still well positive as well as those of the s/t ones supporting further strength. However, an hourly closing below 102,00 will probably signal some consolidation/ correction. We stay on the sideline but expect the move up to be over for now!
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