For today's forecast, we recommend a Buy Order at this recommended market price - 126.9. This idea is based on the following analysis:
- 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.
- The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
- MVP line is below the price and acts as a support level.
- These accumulation of retail traders stop losses coincide with the level of the previous high. This level will serve as the target for our trade.
