The EUR/JPY confirmed a positive daily closing on Friday but the weekly one was weak, below the low of the previous week suggesting we have a top at 111,62 and supporting therefore a retest of the low at 100,76!!
The indicators of the daily chart are still well negative as well as those of the weekly one. The indicators of the s/t charts are instead still positive since the move up on Friday above 104 but they are still not fully convincing. Only an hourly closing above 104,35 will support higher levels with the 200 hours line at 104,80 the possible attraction. A return below 103,60 will instead resume the decline.
We stay on the sideline waiting for stronger signals!!
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FUTURE TREND RESEARCH