(131,70) The EUR/JPY confirmed a negative closing while consolidating interior the range of the previous session. We have now 132,55 – 131,05 the levels to follow in the coming hours. A daily closing below 131,05 will support further weakness probably closing Europe’s gap up, still open 131,19 – 130,43!!! The indicators of the daily chart are still well positive but those of the s/t ones turned below the line supporting further consolidation/ correction. The s/t scenery is however well mixed with positive reversal suggesting higher levels toward a possible s/t target at 133,13; in the same time we have however also potential negative reversals suggesting a possible top. We stay on the sideline but still favour lower levels!!
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