(122,97) The EUR/JPY confirmed a session of consolidation with a negative closing after it almost closed the gap down; still open 124,15 – 124,21!! Only a daily closing below 121,57 will support direct lower levels suggesting a 120 undershooting, still the target!! The indicators of the daily chart are still well negative while those of the s/t ones are still showing a mixed picture suggesting further consolidation/ correction. Bullish divergences confirm however a negative tone suggesting further weakness. Before moving lower we could see a retest of the 124 area with even a possible overshooting toward the 200 hours line at 124,30, move that we suggest selling for a drop toward 120!! We suggest waiting for a little higher levels to sell!!
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Future Trend Research