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

October 5, 2022 8:34:55 AM by Alex Zarevich
Forecast Details
PairUSDJPY
Direction Buy
StatusClosed (144.65)
8:34
8:34
Oct. 5, 2022
+65 p
145.10
Target 1
144.45
Entry
-70 p
143.75
Stop Loss
Chart & Analyst Comments
main-buy-market-trend-1
  1. The Current Ratio indicator have reached a critical value, too many traders expect a downward movement. In this case, we recommend to Buy only.
  2. The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
  3. When the price decreases, a signal is formed (orange labels), which implies an upward movement.
  4. The MVP indicator shows the uptrend. We take this into account as one of the important factors in today's forecast.
  5. The risk-to-profit ratio allows us to set Take Profit for a Long trade at 145.1
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