(114,87) The EUR/JPY confirmed still a strong closing last night despite a correction that favoured a retest of the 114,60 area. Europe kept however still a gap up situation, however less important. The indicators of the daily chart are still all well positive but still well overbought and still showing potential negative reversals. The indicators of the s/t charts turned instead already negative supporting further consolidation/ correction. Only an hourly closing below 104,55 will however support a deeper correction already breaking a s/t support line and suggesting a move toward the 200 hours line, now found at 113,39. An hourly closing above 115,20 will instead support a retest of the 116 area with a possible extension toward our s/t target at 116,36 if not even a 117 overshooting. We stay on the sideline waiting for a sensible correction
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Future Trend Research