(119,12) The EUR/JPY confirmed a weak closing confirming therefore also Friday’ small negative day reversal. We need however a further confirmation with a closing below 118,90 to definitely confirm a little lower levels , scenery that we still favour. The indicators of the daily chart are still below the line and at the moment also those of the s/t ones are in negative territory suggesting further consolidation/ correction. We saw at the moment a test of the 200 hours line at 118,75 but we believe the cross could deliver a deeper retracement, suggesting a move toward the 117 area! We stay on the sideline waiting for the BOJ conference. Only an hourly closing above 120,20 will resume the move up.
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Future Trend Research