(98,15) 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 but that a move above 99,00 could abort! The indicators of the daily chart are now at the line and a strong closing could even turn them up today! The indicators of the s/t charts are instead positive supporting further strength. However, potential negative reversals are also showing up in the hourly hart still suggesting a possible drop toward 95. A move above 99,00 will however abort it! We stay on the sideline.
Read the full report: USDJPY 08.22
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