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