The market has stabilized, the first signs of an uptrend appeared
January 10, 2020 8:32:52 AM
Forecast Details
PairEURJPY
Direction
Buy
StatusClosed (120.9)
+159 p
122.50
Target 1
120.90
Entry
-140 p
119.50
Stop Loss
About Author
Patrick Yang
Expert
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Chart & Analyst Comments
- Majority of traders are still holding onto Shorts. This means we should continue to Buy EURJPY.
- The activity of "fresh" bears while the upward movement may indicate that the market crowd still does not believe in a Bullish trend.
- 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.
- Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.