Chart EUR/JPY Update: Lower from 126.30 Fibonacci retracement
The test of the 126.30 retracement is giving way to a short-term pullback, whilst overbought intraday studies unwind.
A break below congestion around 126.00 is highlighted, but rising daily stochastics and the improving Tension Indicator should prompt fresh
EURJPY
buying interest around 125.50, before negative weekly charts extend losses still further.
A close beneath here will add further weight to sentiment and put focus on 125.00.
Meanwhile, a close above 126.30, if seen, will delay downside tests and open up 126.50/55.
A break below congestion around 126.00 is highlighted, but rising daily stochastics and the improving Tension Indicator should prompt fresh
EURJPY
buying interest around 125.50, before negative weekly charts extend losses still further. A close beneath here will add further weight to sentiment and put focus on 125.00.
Meanwhile, a close above 126.30, if seen, will delay downside tests and open up 126.50/55.
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