The EUR/JPY failed to confirm Friday’s negative day reversal but the closing was anyhow negative suggesting further pressure.
The indicators of the daily chart have now turned negative and also those of the s/t ones are below the line supporting further weakness. In the hourly chart we have however potential positive reversals and small oversold conditions. The drop reached also the 200 hours line at 103,99 where we expect good support.
We try therefore small long here at 103,94 ready however to buy more in case of a 103,50 undershooting!!
We expect later on a return above 105!!
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FUTURE TREND RESEARCH