(132,55) The EUR/JPY formed a small negative day reversal that could now favour the retest of the former resistance line of the symmetrical triangle at 132,15. A daily closing below this line will suggest that the break out was a false one supporting lower levels and a probable new 130 undershooting!! The indicators of the daily chart are however still well positive but those of the s/t ones turned below the line or are very close to move into negative territory supporting a deeper correction with the 200 hours line at 131,61 the attraction. Only a return above 133,10 will resume the move up supporting a retest of the 133,80 area. We suggest waiting for lower levels!
Read the full report: EURJPY 09.12
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