EURJPY: Appears very weak below the 200 dma target that was met yesterday. An evening star pattern is likely to be posted today and momentum is rolling over. Further weakness in EURJPY in the short term would not be surprising.
EURJPY: Posted a poor close (doji pattern) yesterday after having met the 200 dma target. We would not be surprised to see further ST losses as towards the 131 support area in the near term. Note that the channel base (which provided support when the pair last corrected down, comes in at 129). A weak close tonight
will mean that a clear evening star pattern will be posted. A prolonged period of weakness for EURJPY possibly as far at the 55 day moving average again at 123.41 cannot be written off.
EURJPY – Poor close at the 200 dma and weak follow through
Linear Mode
