(119,78) The EUR/JPY confirmed a limited rebound finding good resistance just above the 120 level. The closing was however still negative suggesting further weakness and a firm test of the 118,70 level! The indicators of the daily chart are still well negative approaching the oversold area. Those of the s/t ones are instead mixed to positive this morning suggesting some consolidation/ correction. Only an hourly closing above 120,20 will however support higher levels with the 200 hours line at 120,97 the possible attraction. A possible move up will be corrective and a selling opportunity for a drop toward our target still at 118,26!! A move above 120,20 will also confirm a small reversed S_H_S formation supporting the rebound. We stay on the sideline but despite a possible extension of the correction we do still expect lower levels
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Future Trend Research