USDJPY - Upward trend will continue, Long trade by market price recommended
December 18, 2019 7:22:08 AM
Forecast Details
PairUSDJPY
Direction
Buy
StatusClosed (109.6)
+54 p
110.00
Target 2
+39 p
109.85
Target 1
109.45
Entry
-45 p
109.00
Stop Loss
About Author
Alexander Zorevyk
Expert
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Chart & Analyst Comments
For today's forecast, we recommend a Buy Order at this recommended market price - 109.45. This idea is based on the following analysis:
- According to the Current Ratio indicator, the market crowd inclined to believe in a downward movement. We recommend Long trade for today.
- 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.
- The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
- We see two clusters of stop losses above the price on which we set our first and second targets according to our forecast.