(97,48) The USD/YEN formed again a positive day reversal but only a daily closing tonight above 96,95 will confirm a s/t bottom supporting a return toward 98,50, at least! The indicators of the daily chart are however still well negative but those of the s/t ones turned above the line supporting further consolidation/ correction. The move up already favoured a test of the 200 hours line at 97,60 where we expect good resistance. The indicators of the hourly chart are already overbought while showing potential negative reversals. We suggest however waiting for a possible move above 98 before selling some dollars!
Read the full report: USDJPY 08.13
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