(114,42) The EUR/JPY is also still extending its move up after however a swift correction yesterday from 114,33 to 113,41. The closing was however still strong. Also here the slope is getting steeper and dangerous. While above 114,33 the European market will start with a new gap up suggesting a direct 115 overshooting for a test of the 116 level. The indicators of the daily chart are still well positive but also still heavy overbought and still showing a potential negative reversal situation! The indicators of the s/t charts are also positive but overbought, however still forming bearish divergences, therefore confirming the positive tone. We expect further strength before a powerful correction that should bring this cross back toward at least the 200 hours line that we find still only at 111,88
Click here to read the full report: EURJPY 12.28
Future Trend Research