- According to the most brokers’ data, more than half of the traders are currently in long positions on USDJPY. As a result, we recommend considering only Short trades at this time.
- The increase in buyers is observed both in the downward movement and in the retracement movements. Retail traders still believe in the possibility of price increase.
- When the price rises, a signal is formed (orange labels), which implies a downwards movement.
- This cluster of orders acts as a resistance. For our forecast, stop loss is reasonable to set higher than this cluster.
Chart & Analyst Comments
