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EURJPY - Downward trend will continue, Short trade by market price recommended

Alex Zarevich on FXSSI Alex Zarevich Expert
main-sell-market-trend-1
Forecast Details
PairEURJPY
Publication Time6/9/21 10:08 AM
Direction Sell
Status Closed (133.20)
10:07
10:07
Jun. 9, 2021
Forecast
-70 p
134.10
Stop Loss
133.40
Entry
+60 p
132.80
Target 1
+90 p
132.50
Target 2
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Chart & Analyst Comments

main-sell-market-trend-1
  1. Majority of traders are still holding onto Longs. This means we should continue to Sell EURJPY.
  2. 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.
  3. The Delta of the Profit Ratio indicator exceeds the threshold value of 2%. A decrease of EURJPY price is expected.
  4. 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
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