(97,49) The USD/YEN is still consolidating interior last week’s negative outside day with 98,75 – 96,95 still the levels to follow in the coming hours/ session. Only a daily closing below 96,95 will support lower levels suggesting a test of the 95 area, scenery that we do still favour! The indicators of the daily chart are still negative while those of the s/t ones are showing a mixed picture this morning suggesting some consolidation with however a downside bias. While below 98,15 on an hourly closing we expect the dollar to move lower for a possible break below 97,00 that yesterday has been tested!! We stay on the sideline.
Read the full report: USDJPY 08.21
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