The EUR/JPY confirmed another weak closing last night again below the low of the previous day suggesting further downside pressure 103 if not even 102,50. In the s/t charts we have however a potential double bottom below 1§03,50 but only an hourly closing above 104,40 will support the pattern favouring a rally at least toward the 200 hours line, now found at 105,69.
The indicators of the daily chart are still well negative but those of the s/t ones are close or already above the line supporting a possible rebound. We just need a few more confirmations before calling this cross higher, move however that we expect to be corrective and a selling opportunity but only close to the 106 area!
We will still try a long position in case of a direct extension of the drop toward 102,50 before the US will start its session!!
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