(126,25) The EUR/JPY confirmed further strength on Friday causing even a test of the 127 level where the cross formed a small triple top in the s/t charts. Possible a correction toward the support line at 125,00 before turning again higher!! The indicators of the daily chart are still well positive but also still heavy overbought; those of the weekly one are also heavy overbought showing potential negative reversals. The indicators of the s/t charts are mixed this morning suggesting some consolidation/ correction with the 200 hours line at 122,48 the attraction!! In our view this cross is too high by at least 15%!!
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Future Trend Research