(130,10) The EUR/JPY confirmed another weak closing last night favouring a 130 undershooting. The drop confirmed a break below the s/t support line, now resistance at 130,55 before the 200 hours line at 130,90. While below this lines we expect this cross to extend the decline toward 128!! The indicators of the daily chart turned again negative and also those of the s/t ones are below the line. Fresh bullish divergences confirm a negative tone supporting further pressure. Therefore the decline is not anymore corrective!! Next level to watch is the support line at 128,90!! We still remain on the sideline.
Read the full report: EURJPY 08.28
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