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EURJPY - Upward trend will continue, Long trade by market price recommended

October 9, 2020 7:14:19 AM by Alexander Zorevyk
Forecast Details
PairEURJPY
Direction Buy
StatusClosed (124.25)
7:13
7:13
Oct. 9, 2020

+45 p
125.20
Target 1
124.75
Entry
-50 p
124.25
Stop Loss
Chart & Analyst Comments
main-buy-market-trend-1
  1. 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.
  2. We are seeing an increase in Sell positions by market crowd, who are replenishing an already large number of "locked up" losing Sell positions.
  3. MVP line is below the price and acts as a support level.
  4. Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.
  5. The trade is aimed at the previous high breakout. The SLC indicator signals us to set our target at the level where most Stop Losses are placed - 125.2
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