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The market has stabilized, the first signs of an uptrend appeared

Patrick Yang on FXSSI Patrick Yang Expert
main-buy-trend-2
Forecast Details
PairEURJPY
Publication Time1/10/20 8:32 AM
Direction Buy
Status Closed (120.90)
Jan. 10, 2020
Jan. 17, 2020
Forecast
+160 p
122.50
Target 1
120.90
Entry
-140 p
119.50
Stop Loss
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Chart & Analyst Comments

main-buy-trend-2
  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. These accumulation of retail traders stop losses coincide with the level of the previous high. This level will serve as the target for our trade.
  4. Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.
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