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

May 9, 2019 4:09:11 PM by Alexander Zorevyk
Forecast Details
PairEURJPY
Direction Sell
StatusClosed (123.1)
16:05
16:05
May 9, 2019

-70 p
123.70
Stop Loss
123.00
Entry
+84 p
122.15
Target 1
Chart & Analyst Comments
EURJPY - Downward trend will continue, Short trade by market price recommended
  1. According to the most brokers’ data, more than half of the traders are currently in long positions on EURJPY. As a result, we recommend considering going only short at this time.
  2. The last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
  3. In the right order book, we see the volume of loss buyers above the current price. This cluster can act as a resistance.