The USD/YEN is confirming further consolidation interior the inside day with 78,30 – 77,15 still the levels to follow in the coming hours. Only a daily closing above 78,30 will support higher levels. The indicators of the daily chart are still positive but those of the s/t ones turned negative putting the dollar under some pressure. The decline should however be corrective and the indicators are already entering the oversold area.
We remain on the sideline while following the inside day.
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