The EUR/JPY confirmed a strong closing last night but unfortunately well off the highs of the session. The performance of this cross is disappointing but we know it is caused by the EUR/DOLL move. The monthly closing was positive forming even a positive outside month reversal!!
The indicators of the daily chart are still all well positive but still not yet those of the monthly chart. The indicators of the s/t charts have returned below the line suggesting further consolidation/ correction. Possible therefore an extension of the decline toward the 200 hours line at 106,62 if not even the support line at 105,70. We want to try this possible drop especially in case of a 105,80 undershooting!!
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FUTURE TREND RESEARCH