Looking to sell EUR/JPY into resistance - 2ndSkies

FXstreet.com (Barcelona) - EUR/JPY is approaching key resistance zone, which according to Chris Capre, Founder at 2ndSkies, may present a selling opportunity, despite the fact that the daily chart is building a series of HL's (higher lows). Nonetheless, in Chris words, "there could be a good low risk - high reward opportunity to sell in this resistance zone."

Capre notes: "I'm looking for intra-day sell signals between 132.15 and 132.75 with minimum targets set at 131.15, and larger targets around 129.85." The American Trader suggests to watch the 4hr or 1hr charts for price action sell signals in mentioned resistance zone. "A 4hr close above 133 suggests an attack on 133.81 which would be the 3 month highs" Capre said.