EUR/JPY: Trade ideas for Sep. 18

   Felipe Erazo

In the H1 chart, the EURJPY is forming a higher high pattern below the resistance level of 139.63, by what this pair could begin to make a bearish retracement, because the EURJPY is overbought and the corrective movements could come soon for this pair.

However, the EURJPY could be a rebound on the support level of 138.91 and climb back up to the resistance level of 139.63, although this pair is very strong in the current bullish bias. The RSI indicator is entering overbought zone.

Trading recommendations: Place buy orders if the EURJPY does a breakout at the resistance level of 139.63, with take profit art 140.00.

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