(130,10) The EUR/JPY is still consolidating interior Thursday’s negative outside day with 130,85 – 129,30 still the levels to follow in the coming hours/ sessions. Only a daily closing below 129,40 will resume the decline! The weekly closing was positive forming even a positive week reversal; only a weekly closing above 130,74 next Friday will however confirm a bottom at 127,96!! The indicators of the daily chart are still well negative as well as those of the weekly one suggesting further downside risk. The indicators of the s/t charts are instead showing a well mixed picture suggesting further consolidation. We have potential negative reversals but in the same time the return toward 130,70 formed bearish divergences. However, while below 130,75 we expect another test on the downside! We are still short but put now a stop at 130,85!
Read the full report: EURJPY 08.19
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