EURJPY - Downward trend will continue, Short trade by market price recommended

May 15, 2019 3:43:59 PM by Alexander Zorevyk
Forecast Details
PairEURJPY
Direction Sell
StatusClosed (122.76)
15:42
15:42
May 15, 2019

-50 p
123.20
Stop Loss
122.70
Entry
+50 p
122.20
Target 1
Chart & Analyst Comments
EURJPY - Downward trend will continue, Short trade by market price recommended
  1. According to the most brokers’ data, more than half of the traders are currently in long positions on EURJPY. As a result, we recommend considering going only short at this time.
  2. The Current Ratios indicator demonstrates a change in the ratio of players in the market towards buyers. Their increase while the trend is still going downwards may indicate the activity of averaging traders. This can only serve as "fuel" for further downtrend.
  3. In the right order book, we see the volume of loss buyers above the current price. This cluster can act as a resistance.