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

May 16, 2022 11:01:43 AM by Alexander Zorevyk
Forecast Details
PairUSDJPY
Direction Buy
StatusClosed (129.30)
11:01
11:01
May 16, 2022
+70 p
130.00
Target 1
129.30
Entry
-70 p
128.60
Stop Loss
Chart & Analyst Comments
main-buy-market-trend-1
  1. The Current Ratio indicator have reached a critical value, too many traders expect a downward movement. In this case, we recommend to Buy only.
  2. The Ratios indicator shows the change in the ratio of market players towards sellers. Their increase while the uptrend may indicate the activity of averaging traders. This can serve as "fuel" for further uptrend.
  3. The number of profitable buyers has exceeded 75%. The uptrend is in its active phase. This confirms potential for a Long trade.
  4. The present level of MVP, which is below the current price, favors Buy Orders.
  5. Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.
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