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