(87,22) The USD/YEN confirmed a strong closing last night after an extension of the move up toward 87,35 that we tested again this morning. The possible s/t target is still 87,97 if not even 90,00 but the slope of this rise is still very steeper and dangerous. The indicators of the daily chart are well positive and heavy overbought showing also potential negative reversals. Those of the s/t ones are instead mixed this morning suggesting some consolidation/ correction. Only an hourly closing below 86,95 will however favour a deeper correction with the support line at 86,75 already the first support before the 200 hours line at 85,84. The European market kept the gap up area yesterday.
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Future Trend Research