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

January 18, 2022 10:38:43 AM by Alexander Zorevyk
Forecast Details
PairEURJPY
Direction Buy
StatusClosed (129.60)
10:36
10:36
Jan. 18, 2022

+95 p
131.25
Target 2
+70 p
131.00
Target 1
130.30
Entry
-70 p
129.60
Stop Loss
Chart & Analyst Comments
main-buy-market-trend-1
  1. The Current Ratio indicator have reached a critical value, too many traders expect a downward movement. In this case, we recommend to Buy only.
  2. There is an increase in the number of bears on the downward movement, followed by correction. We consider this movement as a trap for sellers and look forward for a continuation of the uptrend.
  3. When the price decreases, a signal is formed (orange labels), which implies an upward movement.
  4. MVP line is below the price and acts as a support level.
  5. The first target is at the level of the previous peak - 131, and the second one, in case of an active price increase, is at the level - 131.25
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