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

March 16, 2022 3:28:59 PM by Alexander Zorevyk
Forecast Details
PairUSDJPY
Direction Buy
StatusClosed
15:28
15:28
Mar. 16, 2022

+65 p
119.00
Target 1
118.35
Entry
-65 p
117.70
Stop Loss
Chart & Analyst Comments
main-buy-market-trend-1
  1. The Current Ratio indicator, which is used for quick market sentiment analysis, provides Buy signal at the moment.
  2. The Profit Ratio reversal indicator doesn't react on upward movement. This means that the movement is not fake.
  3. The activity of "fresh" bears while the upward movement may indicate that the market crowd still does not believe in a Bullish trend.
  4. We see an accumulation of loss sellers below the current price in the right Order Book. This cluster can act as a support.
  5. Set Take Profit at the local high, beyond which there is a cluster of orders.
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