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

June 6, 2019 6:20:07 PM by Alexander Zorevyk
Forecast Details
PairEURJPY
Direction Buy
StatusClosed (122.7)
18:16
18:16
Jun. 6, 2019

+55 p
122.70
Target 1
122.15
Entry
-50 p
121.65
Stop Loss
Chart & Analyst Comments
EURJPY - Upward trend will continue, Long trade by market price recommended

We are expecting upward trend to continue for EURJPY currency pair. Long trades only. See below for the summary of analysis:

  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. Downward price movement is accompanied by reversal signals of Profit Ratio indicator.
  3. The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
  4. Here is the crucial stop loss level to serve as a goal for our Buy trade idea.