Extreme trader sentiment points to possible EURJPY uptrend

Extreme trader sentiment points to possible EURJPY uptrend for SAXO:EURJPY by FXCM

Extreme trader sentiment points to possible EURJPY uptrend

Euro/Japanese Yen SAXO:EURJPY

The Trend Follower Strategy has just bought EURJPY at 128.944. The system recommends entering this trade at any price between 128.815 and 129.073. The signal was issued because our Speculative Sentiment Index is extremely positive, with a value of -1.602. This suggests that the EURJPY could be trending upwards.The 14-period Average True Range on a daily chart is 0.516, so the stop loss has been set at 128.428. This stop loss order is a trailing stop that will move up as the market moves up. There is no profit target for this strategy. We expect to be closed by the stop loss.Trend Follower is a trend trading strategy that aims to buy and hold rising currency pairs and to sell short and hold falling currency pairs. The strategy looks to buy when the Speculative Sentiment Index is below -1.5, and looks to short when it is above +1.5.

Signal ID: 75134
Time Issued: Thursday, 25 February 2021 01:00:16 GMT
Status: open
Entry: 128.815 – 129.073
Limit: N/A
Stop Loss: 128.428

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