The USD/YEN confirmed a negative daily and monthly closing suggesting further consolidation for now. Considering however that we could see a rally in the EUR YEN we favour a firm dollar for now. The indicators of the daily chart are still positive but they are below the line in the monthly one confirming further pressure. Those of the s/t chart turned also below the line suggesting some consolidation for the coming hours.
The decline confirmed a test of the 200 hours line with even a small undershooting giving us the chance to go long as suggested in yesterday report. In the hourly chart we have a potential positive reversal suggesting however a target below the top of the last rally, which is not really very positive. For the moment we suggest however keeping the position.
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FUTURE TREND RESEARCH