USDJPY appears overbought

FX:USDJPY   U.S. Dollar / Japanese Yen
The Congestion Opportunities Strategy has just sold USDJPY at 110.638. The system recommends entering this trade at any price between 110.546 and 110.73. The signal was issued because the 28-hour Relative Strength Index indicates that the USDJPY may be overbought, while the Speculative Sentiment Index reading of 1 indicates that trader sentiment is not at extremes.The 14-period Average True Range on a daily chart is 0.368, so the stop loss has been set at 111.006. This stop loss order is a trailing stop that will move down as the market moves down. There is no profit target for this strategy. We expect to be closed by the stop loss.Congestion Opportunities is a range trading strategy that aims to sell overbought currency pairs and to buy oversold currency pairs. The strategy will only trade when the Speculative Sentiment Index for that currency pair is between -1.5 and +1.5. Limiting range trading in this way has shown in the past to significantly raise the probability of successful range trades.

Signal ID: 63667
Time Issued: Tuesday, 12 February 2019 04:00:16 GMT
Status: open
Entry: 110.546 - 110.73
Limit: N/A
Stop Loss: 111.006

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.88% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
I have the same sentiment, check my analysis!
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