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

March 24, 2020 8:59:31 AM by Alexander Zorevyk
Forecast Details
PairEURJPY
Direction Buy
StatusClosed (120.60)
8:57
8:57
Mar. 24, 2020

+95 p
120.60
Target 1
119.65
Entry
-80 p
118.85
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 activity of "fresh" bears while the upward movement may indicate that the market crowd still does not believe in a Bullish trend.
  3. Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.
  4. Set Take profit at the local price maximum.
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