EURJPY - Upward trend will continue, Long trade by market price recommended
October 20, 2020 7:14:59 AM
Forecast Details
PairEURJPY
Direction
Buy
StatusClosed (124.95)
+110 p
125.25
Target 2
+80 p
124.95
Target 1
124.15
Entry
-85 p
123.30
Stop Loss
About Author
Alexander Zorevyk
Expert
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Total votes: 3
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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 decrease in the buyers volume, together with the increase in the sellers volume, confirms the need to Buy, according to our trading idea.
- Price broke through the MVP line and rushed up. We consider this a sign for further EURJPY price increase.
- 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
