(98,51) The USD/YEN confirmed a 99 overshooting on Friday before however closing slightly lower forming a negative day reversal. Only a daily closing below 98,39 will confirm again a s/t top. The weekly closing was positive while however remaining interior the inside week with 99,30 – 95,70 still the levels to follow. The indicators of the daily chart are just above the line but those of the weekly one remain negative for now, even well negative. The indicators of the s/t charts are instead showing a mixed picture supporting some consolidation/ correction. The tone is however positive having formed bearish divergences suggesting that a possible decline toward the 200 hours line at 97,94 should be corrective and a buying opportunity for a move toward 99,22! We stay on the sideline waiting for lower levels to buy
Read the full report: USDJPY 08.26
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