Home Forex Market Analysis Forex Signals EUR/JPY Enters Overbought Zone – Brace to take Sell Trade! 

EUR/JPY Enters Overbought Zone – Brace to take Sell Trade! 



The EUR/JPY is trading with a bearish bias at 126.285 level, holding mostly below the triple top resistance level of 126.400 level. Continuation of a selling trade can extend bearish bias until the 126 and 125.750 mark. The EUR/JPY pair’s strong selling bias is extended by 10 & 20 periods EMA seen on the hourly timeframe. Below these levels, the EUR/JPY may continue trading bearish and offer us quick 30/40 pips during the U.S. session today. Check out a trading plan below: 

Entry Price – Sell 126.11

Stop Loss – 126.51

Take Profit – 125.71

Risk to Reward – 1:1

Profit & Loss Per Standard Lot = -$400/ +$400

Profit & Loss Per Micro Lot = -$40/ +$40

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