(99,73) The USD/YEN confirmed a further strong closing suggesting further strength and a possible return above the 100 level. Nevertheless we are not convinced yet that this dollar will direct resume its move up!! The indicators of the daily chart are still well positive but those of the s/t ones are showing a mixed picture. It’s true that bearish divergences are supporting a positive tone but in the same time we have also potential negative reversals suggesting a limited upside potential. In the s/t only an hourly closing below 99,20 will postpone further strength favouring a return toward the 200 hours line, now found at 98,46. We stay on the sideline.
Read the full report: USDJPY 09.04
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