EURJPY - Upward trend will continue, Long trade by market price recommended
July 23, 2020 8:10:56 AM
Forecast Details
PairEURJPY
Direction
Buy
StatusClosed (123.5)
+90 p
125.00
Target 2
+60 p
124.70
Target 1
124.10
Entry
-59 p
123.50
Stop Loss
About Author
Alexander Zorevyk
Expert
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Total votes: 12
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Chart & Analyst Comments
For today's forecast, we recommend a Buy Order at this recommended market price - 124.1. This idea is based on the following analysis:
- 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.
- We are seeing an increase in Sell positions by market crowd, who are replenishing an already large number of "locked up" losing Sell positions.
- The first target is at the level of the previous peak - 124.7, and the second one, in case of an active price increase, is at the level - 125
