The market has stabilized, the first signs of an uptrend appeared
May 4, 2021 1:00:19 PM
Forecast Details
PairEURJPY
Direction
Buy
StatusClosed (131.15)
+100 p
132.00
Target 2
+70 p
131.70
Target 1
131.00
Entry
-70 p
130.30
Stop Loss
About Author
Alexander Zorevyk
Expert
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Total votes: 3
Buy or Sell
Chart & Analyst Comments
- 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.
- MVP line is below the price and acts as a support level.
- The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
- Visually assessing the ratio of buyers and sellers, we see that retail sellers dominate on the market. This fact favors the Long Orders.
- The given Stop Losses of market participants are on the same level as the previous high, which will serve as the target for our trade.
