(125,35) The EUR/JPY formed a positive day reversal but only a daily closing above 125,28 will confirm a s/t bottom supporting a resumption of the move up. Since some time we have lower lows and lower highs and only a move above 127 will abort this sequence. The indicators of the daily chart are still well negative but now showing potential positive reversals but those of the weekly one are still positive and overbought! The indicators of the s/t charts are positive this morning but also showing negative reversals in the hourly chart suggesting the move up could be just corrective after having formed bullish divergences on the way toward 123!! However, while above the 200 hours line at 125,22 the scenery will remain positive suggesting a possible extension of the move up toward the resistance line at 126,35. We still believe there is a further downside potential!
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Future Trend Research