(120,00) The EUR/JPY confirmed on Friday another strong closing in the daily as well as in the weekly one favouring the expected 120 overshooting. The slope of the move up is very steep and for sure not sustainable. The indicators of the daily chart are still well positive but heavy overbought and a similar picture is found also in the weekly chart. The indicators of the s/t chart are also positive this morning with fresh bearish divergences confirming a positive tone. Today’s session is starting in Europe with another gap up having had a high on Friday at 119,35 while we don’t have to forget the still open gap ups at lower levels. We believe the cross could have reached a target form where we should be able to see a firm correction!!
Click here to read the full report: EURJPY 01.14
Future Trend Research