EURJPY - Upward trend will continue, Long trade by market price recommended

February 1, 2021 7:16:15 AM by Alexander Zorevyk
Forecast Details
PairEURJPY
Direction Buy
StatusClosed (126.3)
7:13
7:13
Feb. 1, 2021

+100 p
127.90
Target 2
+60 p
127.50
Target 1
126.90
Entry
-60 p
126.30
Stop Loss
Chart & Analyst Comments
EURJPY - Upward trend will continue, Long trade by market price recommended
  1. The Current Ratio indicator have reached a critical value, too many traders expect a downward movement. In this case, we recommend to Buy only.
  2. The activity of "fresh" bears while the upward movement may indicate that the market crowd still does not believe in a Bullish trend.
  3. MVP line is below the price and acts as a support level.
  4. The first target is at the level of the previous peak - 127.5, and the second one, in case of an active price increase, is at the level - 127.9