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

April 12, 2022 2:14:01 PM by Alexander Zorevyk
Forecast Details
Direction Buy
StatusClosed (126.00)
Apr. 12, 2022

+80 p
Target 1
-75 p
Stop Loss
Chart & Analyst Comments

For today's forecast, we recommend a Buy Order at this recommended market price - 125.2. This idea is based on the following analysis:

  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 number of profitable buyers has exceeded 75%. The uptrend is in its active phase. This confirms potential for a Long trade.
  3. The decrease in the buyers volume, together with the increase in the sellers volume, confirms the need to Buy, according to our trading idea.
  4. We see two clusters of stop losses above the price on which we set our first and second targets according to our forecast.
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