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

June 18, 2020 6:30:06 AM by Alexander Zorevyk
Forecast Details
PairEURJPY
Direction Buy
StatusClosed (119.55)
6:26
6:26
Jun. 18, 2020

+95 p
121.15
Target 2
+60 p
120.80
Target 1
120.20
Entry
-65 p
119.55
Stop Loss
Chart & Analyst Comments
main-buy-market-trend-1
  1. 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.
  2. The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
  3. When the price decreases, a signal is formed (orange labels), which implies an upward movement.
  4. 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.
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