EURJPY - Downward trend will continue, Short trade by market price recommended
May 24, 2019 9:38:28 AM
Forecast Details
PairEURJPY
Direction
Sell
StatusClosed (122.9)
-100 p
123.90
Stop Loss
122.90
Entry
+120 p
121.70
Target 1
About Author
Patrick Yang
Expert
Related Links
Buy or Sell
More Pairs
Thanks for Voting!
Buy
Sell
Look like you are with the Crowd.
Fix it with Sentiment Strategy
Fix it with Sentiment Strategy
Congratulations! According to Sentiment Strategy you’ve made a right
decision.
You've already voted this pair. You can vote again later (when?) or try voting other
pair.
Total votes: 4
Buy or Sell
Chart & Analyst Comments
The downwards scenario is quite obvious, but the presence of a large number of "fellow travelers" will not allow the price to immediately go down. We expect a false move up and afterwards set up a Sell Limit.
- According to the most brokers’ data, more than half of the traders are currently in long positions on EURJPY. As a result, we recommend considering going only short at this time.
- The Profit Ratio indicator is not responding to a downward movement, this means that the movement is valid.
- The activity of "fresh" buyers in a downward movement may indicate that the market crowd still does not believe in a bearish trend.
- In the right order book, we see the volume of loss buyers above the current price. This cluster can act as a resistance.