(99,66) The USD/YEN confirmed a weak closing on Friday forming a negative key outside day reversal, but the weekly one was positive even above the top of the previous week. We have now 100,35 – 98,40 the levels to follow in the coming hours. A daily closing below 98,40 will support further weakness. The indicators of the daily chart are still well positive but those of the weekly one remain negative for now. The indicators of the s/t charts are showing a mixed picture after the selloff we had on Friday. Today’s session started with a gap up, now support area 99,49 – 99,30. While below 100,25 we expect this dollar to close the still open gap area. We have however to add that the dollar is showing also a potential positive reversal with a target at 100,59!! We stay on the sideline waiting for a more clear picture.
Read the full report: USDJPY 09.09
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