(99,20) The USD/YEN confirmed a weak closing below Friday’s low but failed to confirm the break below the support of the inside day at 98,90. Nevertheless further weakness is possible. The indicators of the daily chart are however still positive for now while those of the s/t ones are showing a mixed picture supporting further consolidation/ correction. Bullish divergences confirm a negative tone for the hourly chart suggesting a limited upside potential. possible however a retest of the 200 hours line at 99,61 that should limit for now the upside. We expect further weakness, especially while the dollar is below the 200 hours line!!! We stay on the sideline.
Read the full report: USDJPY 09.17
Future Trend