(102,54) The USD/YEN confirmed on Friday a strong daily and weekly closings before however forming a negative outside day reversal in yesterday’s session. We have now 103,50 – 101,90 the levels to follow in the coming hours. A break of the support confirmed by a daily closing will favour further weakness!! The indicators of the daily chart are still well positive as well as those of the weekly one where we have overbought conditions and a potential triple top formation!! The indicators of the s/t charts are mixed this morning supporting further consolidation/ correction. The rally above 103 aborted the suggested S_H_S formation but this morning we can suggest another one with the neck line at 102,10. While above this line the scenery will however remain well positive suggesting a new s/t target at 104,57. An hourly closing above 103,00 will resume the move up!
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