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

August 17, 2022 8:32:02 AM by Alex Zarevich
Forecast Details
PairEURJPY
Direction Buy
StatusClosed (137.70)
8:32
8:32
Aug. 17, 2022

+90 p
138.00
Target 1
137.10
Entry
-90 p
136.20
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 decrease in the buyers volume, together with the increase in the sellers volume, confirms the need to Buy, according to our trading idea.
  3. When the price decreases, a signal is formed (orange labels), which implies an upward movement.
  4. The present level of MVP, which is below the current price, favors Buy Orders.
  5. Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.
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