(119,96) The EUR/JPY confirmed a session of consolidation near the lows forming a new inside day with 118,60 – 125,50 the levels to follow in the coming hours/ sessions. A daily closing below 118,60 will confirm direct lower levels suggesting a 117,50 undershooting!! In the s/t charts the cross is consolidating interior a symmetrical triangle suggesting there is more downside risk!! The indicators of the daily chart are still well negative and still showing potential positive reversals. The indicators of the s/t charts are mixed this morning suggesting further consolidation/ correction. Only an hourly closing above 121,40 will postpone further weakness favouring a rally toward the 200 hours line, now found at 122,78. This possible move up is a selling opportunity!! also well negative showing oversold conditions. We stay on the sideline but still expect a little lower levels!!!
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Future Trend Research