The market has stabilized, the first signs of an uptrend appeared
March 22, 2021 1:19:45 PM
Forecast Details
PairEURJPY
Direction
Buy
StatusClosed (128.9)
+85 p
130.25
Target 2
+60 p
130.00
Target 1
129.40
Entry
-60 p
128.80
Stop Loss
About Author
Alexander Zorevyk
Expert
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Total votes: 11
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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.
- There is an increase in the number of bears on the downward movement, followed by correction. We consider this movement as a trap for sellers and look forward for a continuation of the uptrend.
- The number of profitable buyers has exceeded 75%. The uptrend is in its active phase. This confirms potential for a Long trade.
- MVP line is below the price and acts as a support level.
- The last upward movement has brought a volume of buyers, which implies a small price correction. Enter the deal with a Buy Limit order.
- The risk/reward ratio allows you to set Take Profit at the same level where the SLC indicator signals that there are Stop orders - 130
