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

June 28, 2019 11:16:59 AM by Patrick Yang
Forecast Details
PairEURJPY
Direction Buy
StatusClosed (121.60)
Start
End
Jun. 28, 2019
Jul. 5, 2019

+95 p
123.50
Target 1
122.55
Entry
-95 p
121.60
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 Ratios indicator demonstrates a market shift towards sellers. Their increase while the downward movement may indicate a successfully triggered trap. Possible price upward reversal.
  3. The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
  4. 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.
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