(134,46) The EUR/JPY confirmed a strong closing last night suggesting further upside potential even above 135. The move up already confirmed all possible s/t targets but confirmed also a positive reversal in the daily chart suggesting a target at 139,91!! The indicators of the daily chart are still well positive as well as those of the s/t ones supporting further strength. In the s/t only an hourly closing below 134,20 will postpone the move up favouring a deeper correction toward the 133,40 area, now strong support. We stay on the sideline waiting for a possible retest of the 133,40 level to buy. Overall we are however not fully convinced by this break on the upside. It failed yet to form fresh divergences!!!
Read the full report: EURJPY 09.20
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