The EUR/JPY confirmed on Friday a strong daily closing above the top of the previous session suggesting some more upside potential especially in case of a daily closing tonight above 106,40.
The indicators of the daily chart are still positive but those of the weekly one are still below the line also because the weekly closing was weak!! The indicators of the s/t charts are at the moment mixed. The move up we had on Friday, that gave us the chance to sell our position at 106,40 as suggested, formed also a negative reversal situation in the hourly chart. However, while above 105,80 we expect another test on the upside with the 200 hours line at 106,82 the attraction with even a possible 107 overshooting!!
We stay on the sideline for now.
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