(130.35) The EUR/JPY confirmed a weak closing but it failed to confirm the break of the support of the inside day at 129,85. A failure also today to confirm a closing below that level will cause a resumption of the move up!! The indicators of the daily chart are still well negative as well as those of the 4h one supporting further weakness. Only the indicators of the hourly hart are already moving again above the line supporting the rebound. We expect good resistance at 130,50 before the 200 hours line, now found at 131,02! Having formed further bullish divergences we believe the tone is still negative and the present move up is a correction. A possible move toward 128 should follow! Only a move above 132,00 will abort our scenery re-launching the move up!!
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