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

February 11, 2020 8:02:01 AM by Alexander Zorevyk
Forecast Details
PairUSDJPY
Direction Buy
StatusClosed (110.07)
7:59
7:59
Feb. 11, 2020

+65 p
110.50
Target 1
109.85
Entry
-54 p
109.30
Stop Loss
Chart & Analyst Comments
USDJPY - Upward trend will continue, Long trade by market price recommended
  1. According to the most brokers’ data, more than half of the traders are currently in short positions on USDJPY. As a result, we recommend considering only Long trades at this time.
  2. Analyzing the positions ratio, we see that most traders are currently in Shorts, which also combines with the original idea.
  3. The activity of "fresh" sellers in a downtrend may indicate that the market expects the recovery of the bear trend. However, according to our analysis, this movement is corrective and we expect the price to go up
  4. MVP line is below the price and acts as a support level.
  5. The price increase will be accompanied by the trigger of market crowd’s stop losses, which in turn will serve as a "fuel" for the upward movement.