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

January 25, 2021 9:44:44 AM by Alexander Zorevyk
Forecast Details
PairEURJPY
Direction Buy
StatusClosed (125.70)
9:42
9:42
Jan. 25, 2021
+50 p
126.65
Target 1
126.15
Entry
-45 p
125.70
Stop Loss
Chart & Analyst Comments
main-buy-market-trend-1
  1. The Current Ratio indicator have reached a critical value, too many traders expect a downward movement. In this case, we recommend to Buy only.
  2. When the price decreases, a signal is formed (orange labels), which implies an upward movement.
  3. MVP line is below the price and acts as a support level.
  4. Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.
  5. The trade is aimed at the previous high breakout. The SLC indicator signals us to set our target at the level where most Stop Losses are placed - 126.65
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