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

May 12, 2020 7:15:33 AM by Alex Zarevich
Forecast Details
Direction Buy
StatusClosed (107.15)
May 12, 2020

+70 p
Target 2
+50 p
Target 1
-55 p
Stop Loss
Chart & Analyst Comments
  1. The ratio of buyers and sellers is close to parity, it's time to think about price turning up.
  2. We see a sharp increase in sell orders as indicated by a number of brokers, which may indicate an interest of a big market player. We are expecting an upward movement.
  3. The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
  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.
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