(117,84) The EUR/JPY confirmed another weak closing suggesting we have a top in place at 120,16. Possible move up in the coming hours/ session should be corrective and should be followed by new weakness suggesting a 115 undershooting!! The indicators of the daily chart are still well below the line while those of the s/t ones are mixed suggesting further consolidation/ correction. Only an hourly closing above 118,25 will postpone the decline favouring a higher retracement even toward the 118,80 resistance area. This possible move up is corrective and a selling opportunity. This scenery will be put into doubt only by a move above 119,30 confirmed by an hourly closing that will cause a retest of the previous top!! We expect lower levels.
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Future Trend Research