(96,90) The USD/YEN confirmed an impressive move up leaving a few gap up that could be seen again in the s/t. If we look back to the moves by the various CB concerning more QE the different currencies did not devalue in the same way as the YEN. So the question is now to find out if the Japanese one is different!! The move up already confirmed a new high and today Europe will start with a gap up of a t least 40 pips in a well overbought market. The US market has also a huge gap up if we consider that they left with a high at 93,68 and started yesterday’s session above 95,20. The risk is for a direct extension toward 98,08; the move up of the last few sessions confirmed however also a new positive reversal suggesting a new target at 101,81!! The indicators of the daily chart are already above the line and also those of the s/ones are positive supporting higher levels. We have however also overbought conditions and this could lead to a sensible correction!!
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