The USD/YEN confirmed yesterday a test of the support of the inside day before however turning again higher. We are therefore following still the 78,30 – 77,15 levels for a possible break out. Again only a daily closing above 78,30 will support higher levels.
The indicators of the daily chart are however still positive while those of the s/t ones are mixed suggesting further consolidation. The drop failed to form divergences suggesting it was just an undershooting.
Only a break above 78,80 will postpone further weakness favouring a test higher!
We remain on the sideline while following the inside day.
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FUTURE TREND RESEARCH