EURJPY - Upward trend will continue, Long trade by market price recommended
December 10, 2020 7:40:23 AM
Forecast Details
PairEURJPY
Direction
Buy
StatusClosed (126.35)
+85 p
127.20
Target 2
+65 p
127.00
Target 1
126.35
Entry
-65 p
125.70
Stop Loss
About Author
Alexander Zorevyk
Expert
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Total votes: 3
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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.
- In this sideways movement, retail traders prefer to hold short trades. There seem to be a major player interest in an upward movement.
- MVP line is below the price and acts as a support level.
- 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.
