(124,55) The EUR/JPY confirmed an important move up, 5,52 figures, aborting our s/t target and probably re-launching the move up. This morning it broke even above the resistance line at 124,80 suggesting further direct strength toward a possible target at 133,85. A daily closing tonight above 124,80 will therefore be bullish! The indicators of the daily chart turned already positive supporting further strength and also the indicators of the s/t charts are positive showing however also very important overbought conditions. At the same time we have however still potential negative reversals and this could limit the upside, at least in the s/t!! only an hourly closing above 125,92 will definitively confirm higher levels!!
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