EURJPY - Upward trend will continue, Long trade by market price recommended
June 18, 2020 6:30:06 AM
Forecast Details
PairEURJPY
Direction
Buy
StatusClosed (119.55)
+95 p
121.15
Target 2
+60 p
120.80
Target 1
120.20
Entry
-65 p
119.55
Stop Loss
About Author
Alexander Zorevyk
Expert
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Total votes: 5
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Chart & Analyst Comments
- 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.
- The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
- When the price decreases, a signal is formed (orange labels), which implies an upward movement.
- In the left orderbook, we see a cluster of stop losses and stop orders right at the level of the previous peak. This is a good level for placing take profit according to our forecast.
