Overview- EUR/JPY is in an uptrend for a long time now. But, price is finding
a lot of resistance at the 130.50 area. Despite that, reversal is elusive so far. Let us analyze
and find a possible sell entry for EUR/JPY sellers.
Analysis - From the chart, you can see that EJ has not been able to break the
130.50 barrier for the last 7-8 days. So, a reversal might happen soon. The area between
130.40 to 131 is the PRZ where we can execute sell trades if there is bearish price action.
Probable trade set-up - Based on this, if there is bearish candlestick formation
in the PRZ, sell entries between 130.40 to 131 with SL above the PRZ and TP at 128.25 is a
possible sell signal.
Disclaimer - This is simply an analysis and not a trade recommendation. The trades will be
executed only if it meets the required criteria.
a lot of resistance at the 130.50 area. Despite that, reversal is elusive so far. Let us analyze
and find a possible sell entry for EUR/JPY sellers.
Analysis - From the chart, you can see that EJ has not been able to break the
130.50 barrier for the last 7-8 days. So, a reversal might happen soon. The area between
130.40 to 131 is the PRZ where we can execute sell trades if there is bearish price action.
Probable trade set-up - Based on this, if there is bearish candlestick formation
in the PRZ, sell entries between 130.40 to 131 with SL above the PRZ and TP at 128.25 is a
possible sell signal.
Disclaimer - This is simply an analysis and not a trade recommendation. The trades will be
executed only if it meets the required criteria.