(127,10) The EUR/JPY confirmed still a negative closing but however above the low of the previous session above 127 after a test below 125. The closing failed therefore to confirm the suggested S_H_S formation with the neck line, now at 126,25. Only a daily closing below this line will support further weakness suggesting a move toward the 120 area!! The indicators of the daily chart are still well negative and also those of the weekly one are turning below the line; therefore tonight’s closing will be very interesting for possible confirmations! The indicators of the s/t charts are instead mixed suggesting some consolidation/ correction. Only an hurly closing above 128,15 will postpone further weakness suggesting an initial retest of the 200 hours line at 129,01. While below it should resume the decline confirming also a negative reversal suggesting a new s/t target at 124,72!! We expect still lower levels but we are missing strong signals and especially confirmations!!
Read the full report: EURJPY 06.14
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