As expected, yesterday EURJPY high candle of 134.11 forming an evening star pattern indicated a reversal of strength.
EURJPY slide downward from London open to New York session close. The drop is similar to the slide in EURUSD indicating weakness in the EUR. USD and JPY strength coincide with retreating stock markets as forex investors shifting into “safe haven” currencies. It seem that share investors are nervous as September might be a terrible month for share prices after the run-up during the summer.
The fall in EURJPY carried all the way to the retracement at 138.2% and subsequently it went sideway during morning Asian session. The cross could see some retracement upward from the recent slide.
