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

January 27, 2021 4:51:48 PM by Alexander Zorevyk
Forecast Details
PairEURJPY
Direction Buy
StatusClosed (126.55)
16:46
16:46
Jan. 27, 2021

+90 p
126.85
Target 2
+60 p
126.55
Target 1
125.95
Entry
-60 p
125.35
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 last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
  3. When the price decreases, a signal is formed (orange labels), which implies an upward movement.
  4. We see two clusters of stop losses above the price on which we set our first and second targets according to our forecast.
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