EUR/JPY - Break In Bearish Structure!

7 May 2021

What Is The Market Telling Us?

• Euro long accumulation phase has expanded since 26th of April
  
• Break of market structure validates bullish momentum incoming
  
• 62% Fib retracement held price for continuation on bullish run
  

What Are Market Participants Doing'?

• EUR longs rose +13.1% in past 24 hours as JPY shorts dropped -10.3%
  
• 81% of retail traders are going short on this pair
  
• COT Data shows over 10,000+ lots has been added to the EUR over the past week