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EURJPY - Downward trend will continue, Short trade by market price recommended

May 22, 2019 4:37:11 PM by Alexander Zorevyk
Forecast Details
PairEURJPY
Direction Sell
StatusClosed (122.5)
16:35
16:35
May 22, 2019

-50 p
123.50
Stop Loss
123.00
Entry
+50 p
122.50
Target 1
+110 p
121.90
Target 2
Chart & Analyst Comments
EURJPY - Downward trend will continue, Short trade by market price recommended
  1. According to the most brokers’ data, more than half of the traders are currently in long positions on EURJPY. As a result, we recommend considering only Short trades at this time.
  2. Upward price movement is accompanied by reversal signals of Profit Ratio indicator.
  3. The activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
  4. We see an accumulation of loss buyers above the current price in the right Order Book. This cluster can act as a resistance.