(128,30) The EUR/JPY formed a small positive day reversal but only a daily closing above 128,62 will confirm a s/t bottom. At the present level the monthly closing will be strong well above the top of the previous months but also here we have potential negative reversals limiting the upside!! The indicators of the daily chart are still below the line for now while those of the s/t ones are showing a mixed picture suggesting further consolidation with however a negative bias. A potential negative reversal in the hourly chart is already supporting a possible move toward a target at 126,11. The 200 hours line at 128,95 should limit the upside!! We suggest waiting for higher levels to sell but only close to the 200 hours line!!
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