The EUR/JPY formed on Friday a small positive day reversal but only a daily closing tonight above 103,30 will support a s/t bottom. The weekly closing was instead still weak, below the low of the previous week.
The indicators of the daily chart are still well negative as well as those of the weekly one keeping this cross under pressure. The indicators of the s/t charts are instead well above the line this morning supporting further strength. Only an hourly closing above 103,55 will however support higher levels suggesting a retest of teh 104,40 resistance area with even a possible overshooting toward 104,70!
We remain on the side line while waiting for stronger signals!!
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