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

June 8, 2020 1:30:53 PM by Alexander Zorevyk
Forecast Details
PairEURJPY
Direction Buy
StatusClosed (122.65)
13:14
13:14
Jun. 8, 2020

+105 p
124.40
Target 2
+65 p
124.00
Target 1
123.35
Entry
-70 p
122.65
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 last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
  3. When the price decreases, a signal is formed (orange labels), which implies an upward movement.
  4. The SLC indicator displays a cluster of Stop Losses and Stop orders at the previous high level, which according to our forecast, is good for placing Take Profit.
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