(120,15) The EUR/JPY confirmed a very weak closing, well below the low of the previous los but also well below the support of the inside day!! The cross already confirmed even a 119 undershooting, level that we expect to test again in the coming hours/ session. The indicators of the daily chart are still well negative however also still showing potential positive reversals. The indicators of the s/t charts are also well negative showing oversold conditions. The cross already confirmed a nice rebound after a test of the 118,70 area; while below 121,37 on an hourly closing we favour a retest of the low with a possible extension toward the 117,30 area. The decline confirmed a break of the support line the cross was holding since the start at 100,32; therefore we expect a deeper correction that could mean even a 115 undershooting!! We stay on the sideline!
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Future Trend Research