(97,72) The USD/YEN formed a positive day reversal after a short 97 undershooting; however, only a daily closing tonight above 97,85 will confirm a s/t bottom while only a move above 99,16 will support higher levels!! The indicators of the daily chart are below the line at the moment while those of the s/t ones are mixed supporting further consolidation with however a negative bias. Therefore while below the 200 hours line at 97,95 we could see another test on the downside, scenery supported by negative reversals in the hourly chart suggesting a possible target at 96,07!! We stay on the sideline!
Read the full report: USDJPY 08.29
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