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

April 13, 2021 5:19:25 AM by Alex Zarevich
Forecast Details
PairEURJPY
Direction Buy
StatusClosed (129.80)
4:57
4:57
Apr. 13, 2021

+60 p
131.00
Target 1
130.40
Entry
-60 p
129.80
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. The number of profitable buyers has exceeded 75%. The uptrend is in its active phase. This confirms potential for a Long trade.
  3. The increase in sellers is observed both in the upward movement and in the retracement movements. Retail traders still believe in the possibility of price decrease.
  4. MVP line is below the price and acts as a support level.
  5. 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.
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