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

April 4, 2019 8:17:33 AM by Alexander Zorevyk
Forecast Details
PairUSDJPY
Direction Buy
StatusClosed (111.75)
6:01
6:00
Apr. 4, 2019

+50 p
111.90
Target 1
111.40
Entry
-45 p
110.95
Stop Loss
Chart & Analyst Comments
USDJPY - Upward trend will continue, Long trade by market price recommended

Only Long trades is in play today for USDJPY. Considering the trend is in its active phase, your Buy Order(s) should be opened at the market price since the corrections are unlikely. Check out the picture above for further explanation:

  1. Analyzing the market sentiment with Current Ratio indicator, we see a formed signal that confirms our idea of Buy Order.
  2. Analyzing the positions ratio, we see that most traders are currently in Shorts, which also combines with the original idea.
  3. MVP line is below the price and acts as a support level.
  4. Here is the crucial stop loss level to serve as a goal for our Buy trade idea.