USD/JPY Technical Analysis

(93,60) The USD/YEN formed a negative day reversal but only a daily closing below 93,28 will confirm a s/t top favouring a deeper correction. The dollar failed to confirm the break above the resistance of the positive outside day at 93,75! The indicators of the daily chart are however still in positive territory while those of the s/t ones are mixed suggesting some consolidation/ correction. Only an hourly closing below 93,25 will however confirm lower levels suggesting an extension of the correction toward the 200 hours line, now found at 92,00!! We stay on the sideline.

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