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The market has stabilized, the first signs of an uptrend appeared

April 2, 2021 7:05:21 AM by Alexander Zorevyk
Forecast Details
PairEURJPY
Direction Buy
StatusClosed (129.90)
7:02
7:02
Apr. 2, 2021

+85 p
130.75
Target 2
+65 p
130.55
Target 1
129.90
Entry
-75 p
129.15
Stop Loss
Chart & Analyst Comments
main-buy-trend-2
  1. According to the most brokers’ data, more than half of the traders are currently in short positions on EURJPY. As a result, we recommend considering only Long trades at this time.
  2. The number of profitable buyers has exceeded 75%. The uptrend is in its active phase. This confirms potential for a Long trade.
  3. There is an increase in Buy Orders when the price attempts to move up. We expect a downward movement to eliminate the accumulated buyers. We recommend to set Buy Limit at 129.9
  4. MVP line is below the price and acts as a support level.
  5. The first target is at the level of the previous peak - 130.55, and the second one, in case of an active price increase, is at the level - 130.75
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