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EURJPY Sell Signal At Resistance Zone Update | Sept 5th
EURJPY – Drops Off After Pushing Up To Resistance Zone
Yesterday we discussed how we were looking for sell signals at the resistance zone between 132.15 and 132.75. Yesterday at 6am EST the pair pushed up to 132.135 (1.5 pips shy of our level) and then sold off another 120+ since then suggesting sellers were waiting short the pair up there.
The false break and follow up rejection off the 1hr 20ema suggests short term the pair should be under some pressure till 130.70. If this folds, then 130.45 and 129.84 should be up next.
NOTE: NFP is tomorrow so be mindful taking new positions ahead of the event, while protecting positions you wish to hold through it.
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