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

October 6, 2020 11:24:46 AM by Alexander Zorevyk
Forecast Details
PairEURJPY
Direction Buy
StatusClosed (124.75)
11:22
11:22
Oct. 6, 2020

+70 p
125.15
Target 1
124.45
Entry
-60 p
123.85
Stop Loss
Chart & Analyst Comments
main-buy-market-trend-1
  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 decrease in the buyers volume, together with the increase in the sellers volume, confirms the need to Buy, according to our trading idea.
  3. MVP line is below the price and acts as a support level.
  4. The price increase will be accompanied by the trigger of market crowd’s stop losses, which in turn will serve as a "fuel" for the upward movement.
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