EURJPY TO FALL IS GOOD NEWS FOR GERMAN CAR MANUFACTURERS

EURJPY MAKING SHORT TERM TOP

EURJPY is making a short term top and could fall through support within a few days. This is of course good news for German car makers with the Japanese seeing their vehicles getting relatively more expensive. The daily chart above shows that after an approximate 10 per cent rise since the July low, the ratio has dipped to encounter its uptrend, previous tops and the convergence of the moving averages which should provide upside impetus.