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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
-85 p
123.25
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 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.
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