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

December 10, 2020 7:40:23 AM by Alexander Zorevyk
Forecast Details
PairEURJPY
Direction Buy
StatusClosed (126.35)
7:36
7:36
Dec. 10, 2020

+85 p
127.20
Target 2
+65 p
127.00
Target 1
126.35
Entry
-65 p
125.70
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. In this sideways movement, retail traders prefer to hold short trades. There seem to be a major player interest in an upward movement.
  3. MVP line is below the price and acts as a support level.
  4. The price increase will be accompanied by the trigger of market crowd’s stop losses, which in turn will serve as a "fuel" for the upward movement.
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