(125,65) The EUR/JPY confirmed this morning also the target at 125,21 followed by a 125,70 overshooting. The high in NY was 124,63 while the high in Europe was 124,19: we have therefore a few important again gaps up in a huge overbought environment!! The cross confirmed a very strong monthly closing again well above the top of the previous month; it’s the 3rd time in a row that EUR/YEN is confirming such a strong closing. Since the low we are now 31,5 figures higher The indicators of the daily chart are still well positive but also well overbought like those of the weekly one!!! The indicators of the s/t charts are again positive and also well overbought. In our view this cross is too high by at least 13%!!
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