EURJPY - Upward trend will continue, Long trade by market price recommended
February 9, 2021 5:51:10 PM
Forecast Details
PairEURJPY
Direction
Buy
StatusClosed (127)
+85 p
127.45
Target 2
+60 p
127.20
Target 1
126.60
Entry
-60 p
126.00
Stop Loss
About Author
Alexander Zorevyk
Expert
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Total votes: 3
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Chart & Analyst Comments
- 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.
- The increase in sellers is observed both in the upward movement and in the retracement movements. Retail traders still believe in the possibility of price decrease.
- MVP line is below the price and acts as a support level.
- The first target is at the level of the previous peak - 127.2, and the second one, in case of an active price increase, is at the level - 127.45
