Dollar/Yen continued decreasing with almost 70 pips. The currency couple depreciated from 80.00 to 79.31 yesterday, matching the negative money flow sentiment at under -14%, closing the day at 79.46. This morning the Dollar weakened further against the Yen, dropping down to 79.07. On the 1 hour chart the upward channel is turning into range trading, while on the 3 hour chart quotes returned into the wide trading range. Break above yesterday’s top and nearest resistance 80.00 would encourage further recovery of the Dollar. Immediate support is today’s bottom at 79.07, and consistent break bellow it could strengthen the Yen further down towards next target 78.20. |
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