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

December 17, 2021 2:35:54 PM by Alexander Zorevyk
Forecast Details
PairEURJPY
Direction Sell
StatusClosed (128.85)
14:33
14:33
Dec. 17, 2021

-70 p
128.85
Stop Loss
128.15
Entry
+75 p
127.40
Target 1
+100 p
127.15
Target 2
Chart & Analyst Comments
main-sell-market-trend-1
  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. We are seeing an increase in Buy positions by market crowd, who are replenishing an already large number of "locked up" losing Buy positions.
  3. The Delta of the Profit Ratio indicator exceeds the threshold value of 2%. A decrease of EURJPY price is expected.
  4. Price broke through the MVP line and rushed down. We consider this a sign for further EURJPY price decrease.
  5. The first target is at the level of the previous bottom - 127.4, and the second one, in case of an active price decrease, is at the level - 127.15
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