(131,24) The EUR/JPY confirmed a weak closing below the low of the previous session but well off the lows of the day. Only a daily closing tonight below 129,97 tonight will confirm lower levels. The indicators of the daily chart are turning below the line and this morning also those of the s/t ones are still in negative territory supporting further consolidation/ correction. We had already a 61% retracement from the low below 130; while below 132,55 on an hourly closing we can therefore expect further weakness suggesting a retest of yesterday’s low. However, a move above the resistance will instead re-launch the trend confirming also a positive reversal suggesting a target at 134,46!! We stay on the sideline but still favour lower levels!!
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