(128,05) The EUR/JPY confirmed a weak closing plunging this morning even below 127. The drop confirmed a test of the support line at 127,40 with of course an undershooting. Only a closing below this line will favour further weakness!! The indicators of the daily chart are still well negative and of course also those of the s/t ones are below the line showing well oversold conditions. Fresh bullish divergences still confirm a negative tone supporting lower levels. We believe there is more to come suggesting an extension toward 125!! Possible rebounds should find resistance at 129,10 before the strong 130 area!!
Read the full report: EURJPY 06.07
Future Trend