(131,03) The EUR/JPY confirmed a positive closing last night extending its move up this morning break above 131,05; a daily closing above this level will support a retest of the 132,75 level. The indicators of the daily chart are well positive for now and this morning also those of the s/t ones are above the line supporting further strength. The s/t scenery is however well mixed and showing mixed signals. We have bearish divergences but at the same time we have also potential negative reversals suggesting a limited upside potential. We remain therefore on the sideline but with a negative stock market we suggest a lot of attention with longs in EUR/YEN.
Read the full report: EURJPY 08.22
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