EURJPY - Upward trend will continue, Long trade by market price recommended
October 9, 2020 7:14:19 AM
Forecast Details
PairEURJPY
Direction
Buy
StatusClosed (124.25)
+45 p
125.20
Target 1
124.75
Entry
-50 p
124.25
Stop Loss
About Author
Alexander Zorevyk
Expert
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Total votes: 4
Buy or Sell
Chart & Analyst Comments
- 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.
- We are seeing an increase in Sell positions by market crowd, who are replenishing an already large number of "locked up" losing Sell positions.
- MVP line is below the price and acts as a support level.
- Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.
- 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
