(123,04) The EUR/JPY confirmed on Friday a break below 121,90, move however not confirmed by a daily closing; it managed however to confirm a positive closing but only a daily closing tonight above 123,46 will confirm a s/t bottom! The weekly closing was weak below the low of the previous week! The indicators of the daily chart are still well negative but those of the weekly one remain above the line for now. The indicators of the s/t charts are mixed this morning suggesting some consolidation. While below 123,90 we expect further weakness with 121,07 still the s/t target!! We stay on the sideline but suggest staying short!!
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