Look at these deadly "get the hell out" shooting stars candlesticks at resistance level on the 30 min chart (USD/JPY), they are usually bad news for buyers. I am not saying you should close your long position and/or go short, I just want you to be aware of the situation.
By that post, I meant there is limited reward at best, and it could head down. It could be a sign of strength for Yen.
I am surprised you have put EUR/JPY in the overbought. It is now at 134.75. Did you look at the down side? For me it looks weak on long side, and I would be more inclined for down side or range. This is not a recommendation, but only a superficial analysis/opinion/entertainment/etc.
That is true, the next resistance for the USD/JPY is 20 pips higher, so the upside potential is somehow limited, at least on the shorter time frames.
I was looking at the daily chart which looked overbought after making new high at 136.00..... I am looking to see if it can get over 135 again, if not looking to sell... Thank you for the input.
With exception of area of resistance, I agree with you view. Resistance: instead of 135, I have range 135.35 to 135.60. The less entry in that area, the better for a possible rejection of price. A cleaner entry would be if there is a confirmation of rejection/reversal if any. If you have tools to time a top, then you can make a surgical entry.