(115,03) The EUR/JPY failed as well to confirm further weakness forming instead a positive day reversal. A daily closing tonight above 115,10 will confirm higher levels. The cross is at the moment at a resistance line and a break above 115,20 will cause a test of the right should of the suggested S_H_S formation at 115,57; a break also above this level will postpone further weakness re-launching the move up!! The indicators of the daily chart are however still below the line for now while those of the s/t ones are mixed suggesting further consolidation. In the hourly chart we have potential negative reversal but the signals are not as strong as we would like. Only a break below 113,50 will instead support lower levels. We stay short for now, ready however to temporary close it!!
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Future Trend Research