(88,11) The USD/YEN confirmed a weak closing below the low of the previous session; a possible closing tonight below 88,29 will confirm a s/t top for this dollar suggesting further downside risk toward the 86,00 area (don’t forget the 200 days line is found only at 80,40!). The indicators of the daily chart have now turned negative and also those of the s/t ones are negative supporting further consolidation/ correction. The drop started already forming bullish divergences in the hourly chart suggesting a change of the tone. The decline is finding support at the support line at 88,05; the holding of this line could faovur a rebound with the 200 hours line at 88,24 already the first resistance. While below the 200 h line we expect further weakness. We stay short for now.
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Future Trend Research