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

July 31, 2020 6:52:09 AM by Alexander Zorevyk
Forecast Details
PairEURJPY
Direction Buy
StatusClosed (124.85)
6:50
23:59
Jul. 31, 2020

+75 p
124.85
Target 1
124.10
Entry
-84 p
123.25
Stop Loss
Chart & Analyst Comments
EURJPY - Upward trend will continue, Long trade by market price recommended
  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 activity of "fresh" bears while the upward movement may indicate that the market crowd still does not believe in a Bullish trend.
  3. MVP line is below the price and acts as a support level.
  4. We are focused on the breakdown of the previous peak, the target at the level of 124.85.