(121,02) The EUR/JPY confirmed a strong closing last night above the previous top suggesting further upside potential especially in case of a daily closing above 121,08. The move up aborted the suggested S_H_S formation! The indicators of the daily chart are however still in negative territory forming new bearish divergences. Those of the s/t charts are instead positive this morning showing however well overbought conditions. Also here the indicators of the weekly chart are also well overbought showing potential negative reversals. We believe the upside should be limited but of course we’re talking about EUR/YEN that is used to make important over shootings before however also making sensible corrections!!
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Future Trend Research