(101,02) The USD/YEN is confirming further consolidation interior the inside day despite a 100,50 undershooting. We have therefore 102,70 – 100,55 still the levels to follow in the coming hours; only a daily closing below 100,55 will support lower levels and a closing of the open gap up, now 100,47 – 99,42!! The indicators of the daily chart are still well negative while those of the s/t ones are still showing a mixed picture suggesting further consolidation/ correction. Fresh bullish divergences confirm a negative tone. While below 101,80 on an hourly closing we expect the dollar to resume the decline for a retest of levels below 100,50. The drop below the previous s/t low confirmed also a negative reversal in the hourly chart suggesting a s/t target at 99,97!!
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