EURJPY - Downward trend will continue, Short trade by market price recommended
June 9, 2021 10:08:56 AM
Forecast Details
PairEURJPY
Direction
Sell
StatusClosed (133.2)
-70 p
134.10
Stop Loss
133.40
Entry
+60 p
132.80
Target 1
+90 p
132.50
Target 2
About Author
Alexander Zorevyk
Expert
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Total votes: 3
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Chart & Analyst Comments
- Majority of traders are still holding onto Longs. This means we should continue to Sell EURJPY.
- There is an increase in the number of bulls on the upward movement, followed by correction. We consider this movement as a trap for buyers and look forward for a continuation of the downtrend.
- The Delta of the Profit Ratio indicator exceeds the threshold value of 2%. A decrease of EURJPY price is expected.
- The first target is at the level of the previous bottom - 132.8, and the second one, in case of an active price decrease, is at the level - 132.5
