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The market has stabilized, the first signs of an uptrend appeared

June 19, 2019 4:33:09 PM by Alexander Zorevyk
Forecast Details
PairEURJPY
Direction Buy
StatusClosed (121.15)
16:29
16:29
Jun. 19, 2019

+50 p
122.15
Target 1
121.65
Entry
-50 p
121.15
Stop Loss
Chart & Analyst Comments
The market has stabilized, the first signs of an uptrend appeared
  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. 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.