(129,55) The EUR/JPY confirmed a session of consolidation remaining interior the previous day’s range forming a new inside day with now 129,95 – 127,75 the levels to follow in the coming hours. A daily closing above 129,95 will probably resume the move up. The indicators of the daily chart are still well positive but those of the s/t ones are still showing a mixed picture suggesting further consolidation/ correction. In the hourly chart we still have potential negative reversals but the signals are getting weaker, therefore not anymore so reliable!! Still, only an hourly closing below 127,85 will support lower levels suggesting a retest of the 125 area!! We stay on the sideline.
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