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

April 15, 2022 11:45:53 AM by Alexander Zorevyk
Forecast Details
PairEURJPY
Direction Buy
StatusClosed (136.80)
11:45
11:45
Apr. 15, 2022
+95 p
137.60
Target 1
136.65
Entry
-85 p
135.80
Stop Loss
Chart & Analyst Comments
main-buy-market-trend-1
  1. The Current Ratio indicator have reached a critical value, too many traders expect a downward movement. In this case, we recommend to Buy only.
  2. The activity of "fresh" sellers in a downtrend may indicate that the market expects the recovery of the bear trend. However, according to our analysis, this movement is corrective and we expect the price to go up
  3. The MVP indicator shows the uptrend. We take this into account as one of the important factors in today's forecast.
  4. Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.
  5. Set Take Profit at the local high, beyond which there is a cluster of orders.
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