Previous price movement provoked sellers to action, but having made a fake manoeuvre, it returned upwards. Now is a good time to enter the market with a Buy Order.
- Majority of traders are still holding onto Shorts. This means we should continue to Buy EURJPY.
- In this sideways movement, retail traders prefer to hold short trades. There seem to be a major player interest in an upward movement.
- In the left orderbook, we see a cluster of stop losses and stop orders right at the level of the previous peak. This is a good level for placing take profit according to our forecast.
