(98,35) The USD/YEN formed on Friday a positive day reversal but only a daily closing tonght above 97,80 will confirm a s/t bottom supporting higher levels. The weekly closing was however weak, well below the low of the previous week; with this closing the dollar should have formed a top for now suggesting lower levels but probably only after a correction toward 100!! The indicators of the daily chart are still well negative and also those of the weekly one are below the line suggesting further m/t weakness. The indicators of the s/t charts are positive this morning supporting further strength. We expect an extension of the move up toward 98,90 before the 200 hours line, now found at 99,59. We suggest waiting for this extension to sell!!
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Future Trend