- 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.
Chart & Analyst Comments
