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

Sharp downward move provoked sellers to action, but having made a deceptive 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 going only long at this time.
  2. The decrease in the volume of buyers, together with the increase in the volume of sellers, confirms the need to buy, according to our trading idea.
  3. The Profit Ratio 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. This will serve as a "fuel" for the upward movement.