(117,07) The EUR/JPY confirmed as well a weak closing below the low of the previous session; a daily closing tonight below 117,60, and we are already well below this level, will confirm a s/t top supporting a deeper correction toward 115,50/00! The indicators of the daily chart have already returned below the line and also those of the s/t ones are negative supporting further consolidation/ correction. The indicators of the hourly chart are however already a little oversold; nevertheless we should be able to see a direct extension toward the 200 hours line at 116,53, now the attraction. Possible rebounds should find resistance at 117,60 before the 118,40 area. We expect lower levels.
Click here to read the full report: EURJPY 01.16
Future Trend Research