(130,20) The EUR/JPY confirmed a strong closing last night well above the top of the previous session that was already a positive day reversal. We could see further strength, especially in case of a closing tonight above 131,13!! The indicators of the daily chart are however still well negative while those of the s/t ones are showing a mixed picture suggesting further consolidation/ correction. In the hourly chart we have potential negative reversals with however a very limited downside potential, therefore not reliable. Only an hourly closing below 129,90 will support further weakness
We stay on the sideline but for now we avoid new shorts!!
Read the full report: EURJPY 06.11
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