(114,26) The EUR/JPY confirmed a weak closing below the low of the previous session. The drop toward 113,50 could also have confirmed the suggested S_H_S formation but we suggest i for further confirmations!! The indicators of the daily chart turned already below the line suggesting further downside risk. The indicators of the s/t charts are instead mixed supporting further consolidation/ correction. In the faster RSI the decline formed bullish divergences suggesting an imminent change of the tone. While below the 200 hours line, now resistance at 114,47, the cross should extend its corrective decline toward next support line, now found at 112,20. We keep staying on the sideline while short, still waiting for a sensible extension of the correction.
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Future Trend Research