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

July 29, 2021 7:11:51 AM by Alexander Zorevyk
Forecast Details
PairEURJPY
Direction Buy
StatusClosed (130.25)
7:01
7:01
Jul. 29, 2021

+60 p
130.85
Target 1
130.25
Entry
-60 p
129.65
Stop Loss
Chart & Analyst Comments
main-buy-market-trend-1
  1. Majority of traders are still holding onto Shorts. This means we should continue to Buy EURJPY.
  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. The number of profitable buyers has exceeded 75%. The uptrend is in its active phase. This confirms potential for a Long trade.
  4. MVP line is below the price and acts as a support level.
  5. We are focused on the breakdown of the previous peak, the target at the level of 130.85.
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