On the back of a very weak Japanese Yen(JPY), EUR/JPY has strongly rallied to the 142.20 resistance level.
However, there could be a very strong pullback on the cards if EUR/JPY respects this resistance.
As long as price doesn't break the resistance, sell entries would have very good potential in my opinion.
I would be looking to sell EUR/JPY@143.80-144.20, SL placed moderately above resistance with targets
at 142, 140.50 and 138 respectively.
However, there could be a very strong pullback on the cards if EUR/JPY respects this resistance.
As long as price doesn't break the resistance, sell entries would have very good potential in my opinion.
I would be looking to sell EUR/JPY@143.80-144.20, SL placed moderately above resistance with targets
at 142, 140.50 and 138 respectively.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.