(131,38) The EUR/JPY confirmed a weak closing last night below Friday’s low supporting a little lower levels. Still only a break above 132,75 confirmed by a daily closing will re-launch the move up of this cross aborting our scenery suggesting a return toward 128!! The indicators of the daily chart are however still well positive but those of the s/t charts start today’s European session below the line suggesting further consolidation/ correction. While below 131,60 on an hourly closing we expect lower levels toward the 200 hours line at 130,87 if not even a little lower at 130,35 where we find a s/t support line. The decline should be corrective based on the hourly chart but again we are still convinced to see lower levels! We still remain on the sideline.
Read the full report: EURJPY 08.27
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