(128,55) The EUR/JPY formed a negative outside day reversal reversing the previous session’s performance. We have now 131,40 – 127,00 the levels to follow in the coming hours. A daily closing below 127,00 will support lower levels. In the daily chart this cross could be forming a S_H_S formation with the neck line at 126,20; a break below this line will suggest a sell off toward the 200 days line, now found at 116,60!! The indicators of the daily chart are still well negative while those of the s/t ones are still showing a mixed picture suggesting further consolidation/ correction. While below the 200 hours line at 129,80 the scenery will however remain negative and we believe in a firm break below 126,20 this week!! We wait for selling opportunity.
Read the full report: EURJPY 06.12
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