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

October 20, 2020 7:14:59 AM by Alexander Zorevyk
Forecast Details
PairEURJPY
Direction Buy
StatusClosed (124.95)
7:13
7:13
Oct. 20, 2020

+110 p
125.25
Target 2
+80 p
124.95
Target 1
124.15
Entry
-85 p
123.30
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 decrease in the buyers volume, together with the increase in the sellers volume, confirms the need to Buy, according to our trading idea.
  3. Price broke through the MVP line and rushed up. We consider this a sign for further EURJPY price increase.
  4. The first target is at the level of the previous peak - 124.95, and the second one, in case of an active price increase, is at the level - 125.25
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