EURJPY’s outlook has turned increasingly bearish following a retreat from the August 30 high of 131.70. Technical signals on the 4-hour chart are bearish. The market has fallen below the Ichimoku cloud while the Tenkan-sen has crossed below the Kijun-sen line. Momentum oscillators like RSI and MACD are in bearish territory. EURJPY has entered a consolidation phase between 129.35 and 129.70 since the big drop below the key psychological level of 130.00 yesterday. RSI is horizontal and indicates that EURJPY is entering a neutral phase. But the indicator is below 50, highlighting overall bearishness in the market. MACD ... (full story)