(125,75) The EUR/JPY formed a negative outside day reversal after a retest of the 126 level, while however remaining interior Friday’s inside day with 126,10 – 123,70 still the levels to follow in the coming hours. Only a break above 126,10 confirmed by a daily closing will support further direct strength suggesting a retest of the previous high at 127,70 with a possible extension toward the m/t target at 128,53!! The indicators of the daily chart are however still below the line and this morning also those of the s/t ones are in negative territory supporting further consolidation/ correction. Only an hourly closing below 124,40 will however support direct lower levels with the 200 hours line at 123,25 the possible attraction. We favour lower levels but the hourly chart is already showing potential positive reversals that only a break below 124,40 will be able to momentarily abort!! We wait for further confirmations.
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Future Trend Research