(121,40) The EUR/JPY confirmed another session of consolidation near the lows remaining interior the inside day with 118,60 – 125,50 still the levels to follow in the coming hours/ sessions. Only a daily closing below 118,60 will confirm direct lower levels suggesting a 117,50 undershooting!! The indicators of the daily chart are still well negative and still showing potential positive reversals. The indicators of the s/t charts turned positive since yesterday suggesting further consolidation/ correction. Possible therefore an extension of the corrective move up toward the 200 hours line, now found at 123,19. This move up is in our view still a corrective wave and therefore a selling opportunity, but only above 123 for the moment. We stay on the sideline!
Click here to read the full report: EURJPY 02.28
Future Trend Research