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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 only Short trades at this time.
  2. The Ratios indicator shows the change in the ratio of market players towards buyers. Their increase while the downtrend may indicate the activity of averaging traders. This can serve as "fuel" for further downtrend.
  3. We see an accumulation of loss buyers above the current price in the right Order Book. This cluster can act as a resistance.