(120,45) The EUR/JPY is confirming further consolidation interior the inside day with 124,00 – 120,00 still the levels to follow in the coming hours. Only a daily closing below 120 will support a larger correction suggesting a retest of February’s low at 118,73 with a possible direct undershooting!!! The indicators of the daily chart are still well negative suggesting lower levels and this morning also those of the s/t ones are negative supporting lower levels. Bullish divergences in the 4h chart support a negative tone. Only a move above 121,90 will postpone the decline supporting a higher retracement!! We favour lower levels.
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Future Trend Research