(132,53) The EUR/JPY is still confirming further consolidation above 131,60 in a very narrow range market but without forming any inside formation. The indicators of the daily chart are still well positive while those of the s/t ones keep showing a mixed picture suggesting further consolidation. Still, while above the 200 hours line at 132,16 we have to expect further strength for this cross even if the faster RSI is still showing potential negative reversals, now also suggested by the slower one( the signals are not too strong). However, only an hourly closing above 132,70 will support a retest of the 133,80 area. We stay on the sideline but favour lower levels.
Read the full report: EURJPY 09.18
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