Free Forex Signals and Forecast: Sell EUR/JPY – 3 Mar 2022

Our free forex signals service trade today is a sell order on the EUR/JPY. The cross pair is standing just below the daily highs.

The EUR/JPY cross dropped as the Japanese Yen futures attempted to rebound at the time of writing. However, in the short term, the pair maintains a sideways trend. That’s why we have to wait for a fresh trading opportunity. Technically, the price rebounded, but the swing up seems over. The cross is trading under 128.20, just above 128.50 today’s low.

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Fundamentally, the Japanese Yen received a helping hand from the Japanese Consumer Confidence, reported at 35.3 points above 35.0 estimates.

Euro-zone Unemployment Claims 6.8%

Surprisingly or not, the Euro depreciates even if the Eurozone Unemployment Rate dropped unexpectedly lower from 7.0% to 6.8% below 6.9% forecasts, while the PPI rose by 5.2% versus 2.5% expected. Unfortunately for the Euro, the Final Services PMI was reported at 55.5 below 55.8 estimates, while the German Final Services PMI came in at 55.8 versus 56.6 forecasts.

3 Free Forex Every Week – Full Technical Analysis

From the technical point of view, the EUR/JPY pair signaled that the upwards movement ended after dropping below the uptrend line and after failing to stabilize above 128.40 weekly S1.

Free forex signals – Sell EUR/JPY at 128.06

Free forex signals entry price and take profit

Instrument: EUR/JPY

Order Type: SELL STOP

Entry price: 128.06

Stop Loss: 128.72

TP1: 127.15

My Risk: 1%

Risk / Reward Ratio: 1:1.4

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