(99,80) The USD/YEN confirmed yesterday a session of consolidation forming a new inside day with 100,85 – 98,75 the levels to follow in the coming hours. Only a daily closing below the support will favur further and probably more important weakness. The indicators of the daily chart are still well negative and at the moment also those of the s/t ones are turning below the line suggesting a possible new test on the downside. The decline could already confirm a negative reversal suggesting a possible s/t target at 98,19!! An hourly closing below 99,60 will support lower levels suggesting at least a retest of the previous low at 98,86!! Only an hourly closing above 100,50 will postpone further weakness!!
Read the full report: USDJPY 06.05
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