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

February 18, 2019 8:54:36 AM by Alexander Zorevyk
Forecast Details
PairUSDJPY
Direction Buy
StatusClosed (110.7)
6:18
6:00
Feb. 18, 2019

+35 p
110.90
Target 1
110.55
Entry
-35 p
110.20
Stop Loss
Chart & Analyst Comments
USDJPY - Upward trend will continue, Long trade by market price recommended
  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 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. We see an accumulation of loss sellers below the current price in the right Order Book. This cluster can act as a support.
  4. We are focused on the breakdown of the previous peak, the target at the level of 110.9.