(123,30) The EUR/JPY is still well bid after the strong closing yesterday. The US market kept a gap up area of about 45 pips having had a high at 122,58 2 days ago against a low yesterday at 123,04!! The indicators of the daily chart are still well positive with bearish divergences confirming a positive tone: overall we have however still well overbought levels!! The indicators of the s/t charts are mixed this morning suggesting some consolidation. However, while above 123,00 on an hourly closing the cross will remain bid suggesting a direct extension toward the s/t target at 125,21, or maybe directly toward 130?? In our view this cross is too high by at least 10%!!
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Future Trend Research