The USD/YEN confirmed a strong closing but unfortunately well off the high of the session. The monthly closing was positive forming a positive month reversal but the indicators are still below the line in the monthly chart!! Those of the daily one are instead positive suggesting further upside potential. Only a move above the 80,00 will however stabilize the dollar suggesting even some more upside potential. While below the 200 days line at 79,88 the pressure will remain.
We may see another test on the upside but a break below 77,75 confirmed by an hourly closing will cause lower levels!!
We keep staying on the sideline
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