The market has stabilized, the first signs of an uptrend appeared

May 26, 2020 4:02:51 PM by Alexander Zorevyk
Forecast Details
PairEURJPY
Direction Buy
StatusClosed (118.65)
15:53
15:53
May 26, 2020

+75 p
118.65
Target 2
+54 p
118.45
Target 1
117.90
Entry
-60 p
117.30
Stop Loss
Chart & Analyst Comments
The market has stabilized, the first signs of an uptrend appeared
  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. There is an increase in Buy Orders when the price attempts to move up. We expect a downward movement to eliminate the accumulated buyers. We recommend to set Buy Limit at 117.9
  3. MVP line is below the price and acts as a support level.
  4. Here is the crucial stop loss level to serve as a goal for our Buy trade idea.