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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
+85 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 only Short trades 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. We see an accumulation of loss buyers above the current price in the right Order Book. This cluster can act as a resistance.