EURJPY - Upward trend will continue, Long trade by market price recommended
June 28, 2019 11:16:59 AM
Forecast Details
PairEURJPY
Direction
Buy
StatusClosed (121.6)
+95 p
123.50
Target 1
122.55
Entry
-95 p
121.60
Stop Loss
About Author
Patrick Yang
Expert
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Chart & Analyst Comments
- 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.
- 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.
- The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
- 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.