The EUR/JPY confirmed on Friday a test of the 105,90 area before however plunging again lower forming a negative day reversal; only a daily closing tonight below 104,10 will however confirm a top supporting lower levels. The weekly closing was instead positive, even above the top of the previous week.
The indicators of the daily chart are however still positive while those of the weekly one remain below the line. The indicators of the s/t charts are instead mixed this morning suggesting further consolidation.
While below 104,90 on an hourly closing we could still see lower levels with the 200 hours line at 103,84 the attraction, move that we still expect to be corrective and therefore a buying opportunity!!
We suggest waiting for a possible extension of the correction to buy this cross.
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FUTURE TREND RESEARCH