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

April 17, 2019 5:27:59 PM by Alexander Zorevyk
Forecast Details
PairUSDJPY
Direction Buy
StatusClosed (111.9)
6:08
6:00
Apr. 17, 2019

+40 p
112.40
Target 1
112.00
Entry
-40 p
111.60
Stop Loss
Chart & Analyst Comments
USDJPY - Upward trend will continue, Long trade by market price recommended

Previous price movement provoked sellers to action, but having made a fake manoeuvre, it returned upwards. Now is a good time to enter the market with a Buy Order.

  1. According to the most brokers’ data, more than half of the traders are currently in short positions on USDJPY. As a result, we recommend considering only Long trades at this time.
  2. The decrease in the buyers volume, together with the increase in the sellers volume, confirms the need to Buy, according to our trading idea.
  3. The Profit Ratio reversal indicator doesn't react on upward movement. This means that the movement is not fake.
  4. Visually assessing the ratio of buyers and sellers, we see that retail sellers dominate on the market. This fact favors the Long Orders.
  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.