(120,95) The EUR/JPY just confirmed a nice rebound after the negative closing last night. It missed however to extend further its’ decline below 119 for now. The indicators of the daily chart are still negative but showing potential positive reversal. The indicators of the s/t charts turned instead above the line following the rebound. We have however already overbought conditions especially in the hourly chart showing also clear negative reversals. Nevertheless we expect an extension of the rally toward the resistance line at 121,20 where we expect however good resistance and where one could try a short position. The s/t scenery is still negative even if the cross confirmed this rebound!!
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Future Trend Research