EURJPY - Upward trend will continue, Long trade by market price recommended
April 13, 2021 5:19:25 AM
Forecast Details
PairEURJPY
Direction
Buy
StatusClosed (129.8)
+60 p
131.00
Target 1
130.40
Entry
-60 p
129.80
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.
- The number of profitable buyers has exceeded 75%. The uptrend is in its active phase. This confirms potential for a Long trade.
- 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.
- 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.
