EURJPY - Upward trend will continue, Long trade by market price recommended
March 29, 2021 5:34:03 AM
Forecast Details
PairEURJPY
Direction
Buy
StatusClosed (129.35)
+100 p
129.85
Target 2
+65 p
129.50
Target 1
128.85
Entry
-65 p
128.20
Stop Loss
About Author
Alexander Zorevyk
Expert
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Total votes: 11
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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 decrease in the buyers volume, together with the increase in the sellers volume, confirms the need to Buy, according to our trading idea.
- MVP line is below the price and acts as a support level.
- Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.
- 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 - 129.5
