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

April 8, 2021 8:23:20 PM by Alexander Zorevyk
Forecast Details
PairEURJPY
Direction Buy
StatusClosed (130.50)
20:21
20:21
Apr. 8, 2021

+60 p
130.80
Target 1
130.20
Entry
-60 p
129.60
Stop Loss
Chart & Analyst Comments
main-buy-market-trend-1
  1. The Current Ratio indicator have reached a critical value, too many traders expect a downward movement. In this case, we recommend to Buy only.
  2. The number of profitable buyers has exceeded 75%. The uptrend is in its active phase. This confirms potential for a Long trade.
  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. MVP line is below the price and acts as a support level.
  5. 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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