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

January 16, 2020 7:21:21 PM by Alexander Zorevyk
Forecast Details
PairUSDJPY
Direction Buy
StatusClosed (110.10)
19:16
19:16
Jan. 16, 2020
+40 p
110.50
Target 1
110.10
Entry
-35 p
109.75
Stop Loss
Chart & Analyst Comments
main-buy-market-trend-1
  1. Majority of traders are still holding onto Shorts. This means we should continue to Buy USDJPY.
  2. The dynamics of the Ratios indicator signals for Long opportunities. Pay attention to the area marked on the image.
  3. Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.
  4. MVP line is below the price and acts as a support level.
  5. We are focused on the breakdown of the previous peak, the target at the level of 110.5.
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