(124,35) The EUR/JPY confirmed a negative closing, while however still remaining interior last 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 also today while those of the s/t ones are below the line at the moment. The weakness of the last few hours started however forming bullish divergences in the hourly chart suggesting a possible change of the tone to negative. While below 124,65 on an hourly closing we expect therefore further weakness with the 200 hours line at 123,61 the possible attraction. We wait for further confirmations.
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Future Trend Research