(93,56) The USD/YEN formed a positive day reversal after the test of the 92,60 area but only a daily closing tonight above 93,56 will confirm a s/t bottom!! Despite the positive closing it was however still below the key level 93,45!! The indicators of the daily chart are still well negative while showing potential positive reversals.the indicators of the s/t charts are above the line this morning suggesting further consolidation. In the hourly chart we have however potential negative reversals suggesting a limited upside potential. anyhow we could still see an extension toward 93,90 while the 200 hours line is found at 94,11. We expect this move up to be corrective and a selling opportunity!!
Click here to read the full report: USDJPY 04.03
Future Trend Research