USDJPY - Upward trend will continue, Long trade by market price recommended
May 12, 2020 7:15:33 AM
Forecast Details
PairUSDJPY
Direction
Buy
StatusClosed (107.15)
+70 p
108.25
Target 2
+50 p
108.05
Target 1
107.55
Entry
-54 p
107.00
Stop Loss
About Author
Alexander Zorevyk
Expert
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Total votes: 4
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Chart & Analyst Comments
- The ratio of buyers and sellers is close to parity, it's time to think about price turning up.
- 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.
- The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
- MVP line is below the price and acts as a support level.
- 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.
