(114,73) The EUR/JPY confirmed a session of consolidation but still managed to confirm a closing above 115 but below Friday’s one. While below 115,30 on a daily closing we expect however a deeper correction toward the support line at , now a 112,35! The indicators of the daily chart are still positive, but now very close to the line; we have still overbought conditions and potential negative reversals. The indicators of the s/t charts are instead below the line this morning supporting further consolidation/ correction. In the hourly chart we have a potential S_H_S formation with the neck line at 113,95; an hourly closing below this line will confirm lower levels. Only an hourly closing above 115,60 will abort this pattern!! We stay on the sideline, still waiting for a sensible correction.
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Future Trend Research