EURJPY - Upward trend will continue, Long trade by market price recommended
January 27, 2021 4:51:48 PM
Forecast Details
PairEURJPY
Direction
Buy
StatusClosed (126.55)
+90 p
126.85
Target 2
+60 p
126.55
Target 1
125.95
Entry
-60 p
125.35
Stop Loss
About Author
Alexander Zorevyk
Expert
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Total votes: 5
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Chart & Analyst Comments
- 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.
- The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
- When the price decreases, a signal is formed (orange labels), which implies an upward movement.
- We see two clusters of stop losses above the price on which we set our first and second targets according to our forecast.
