EURJPY - Downward trend will continue, Short trade by market price recommended
February 18, 2021 11:05:45 AM
Forecast Details
PairEURJPY
Direction
Sell
StatusClosed (128.15)
-55 p
128.15
Stop Loss
127.60
Entry
+50 p
127.10
Target 1
+70 p
126.90
Target 2
About Author
Alexander Zorevyk
Expert
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Chart & Analyst Comments
- 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.
- When the price rises, a signal is formed (orange labels), which implies a downwards movement.
- Visually assessing the ratio of buyers and sellers, we see that retail buyers dominate on the market. This fact favors the Short Orders.
- We should set the target of our trade at the closest level with a large number of Stop orders, as signaled by the SLC indicator.
