(129,75) The EUR/JPY formed as well a positive day reversal but only a daily closing tonight above 128,95 will confirm a s/t bottom. The move up should however be corrective based on the s/t charts. Nevertheless we could well see a 130 overshooting while only a move above 132,75 will resume the move up!! The indicators of the daily chart are still well negative but are forming a double bottom supporting the rebound. The indicators of the s/t chart are positive this morning supporting the present rebound that is already confirming a test of the 200 hours line at 129,80. The indicators of the hourly chart are already overbought showing potential negative reversals. We suggest selling a 130,00 overshooting!
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