The EUR/JPY confirmed formed a positive outside day but it failed to confirm a daily closing above the resistance of the inside day at 104,65. We have now 104,85 – 103,20 as the new levels to follow in the coming hours. Only a daily closing above 104,85 will support higher levels probably even re-launching the move up of this cross.
The indicators of the daily chart are now positive as well as those of the s/t ones supporting further strength. The move up started also forming bearish divergences in the hourly chart confirming a positive tone. Possible s/t declines will be corrective and therefore buying opportunities, especially close to the 200 hours line, still only at 103,62!!
We suggest waiting for a decent correction to buy this cross because this cross will go higher.
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