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

May 12, 2020 7:15:33 AM by Alexander Zorevyk
Forecast Details
PairUSDJPY
Direction Buy
StatusClosed (107.15)
7:09
7:09
May 12, 2020

+70 p
108.25
Target 2
+50 p
108.05
Target 1
107.55
Entry
-54 p
107.00
Stop Loss
Chart & Analyst Comments
USDJPY - Upward trend will continue, Long trade by market price recommended
  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.