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

Alex Zarevich on FXSSI Alex Zarevich Expert
main-sell-market-trend-1
Forecast Details
PairEURJPY
Publication Time12/17/21 2:35 PM
Direction Sell
Status Closed (128.85)
14:33
14:33
Dec. 17, 2021
Forecast
-70 p
128.85
Stop Loss
128.15
Entry
+75 p
127.40
Target 1
+100 p
127.15
Target 2
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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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