(123,97) The EUR/JPY confirmed a strong closing above the top of the previous session closing also completely the rest of the gap down formed on Monday. The indicators of the daily chart are however still well negative but those of the s/t ones are above the line this morning suggesting more upside potential. in the same time we have however negative reversals in the hourly chart suggesting a limited upside potential form the present levels. The potential target has however moved higher to 121,07, but still below the low we had in the last sessions!! However, there is a problem: the move above 124,15 that has been confirmed by a few hourly closings, could have confirmed a double bottom at 122 suggesting a retest of the 126 area. We stay on the sideline for a moment while following how the cross will unfold in the coming hours.
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Future Trend Research