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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 Time9/9/24 7:48 AM
Direction Sell
Status Closed (158.40)
7:48
7:48
Sep. 9, 2024
Forecast
-120 p
159.60
Stop Loss
158.40
Entry
+100 p
157.40
Target 1
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Chart & Analyst Comments

main-sell-market-trend-1
  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. MVP line is above the price and acts as a resistance level.
  3. We see an accumulation of loss buyers above the current price in the right Order Book. This cluster can act as a resistance.
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