(125,80)The EUR/JPY confirmed an important rebound last night that favoured a strong daily closing well above Friday’s top. The move up confirmed a 75% retracement of the previous drop, well exceeding our expectations. While above the 125,50 level, where we find today the 200 hours line, the scenery could remain positive!! The indicators of the daily chart are however still well negative as well as those of the 4h one. The indicators of the hourly chart are instead above the line showing already potential overbought conditions as well as negative reversals!! The potential target could be 122,69 but only a return below the 200 hours line, if not even below 125,00, will confirm a resumption of the decline!!
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Future Trend Research