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

April 23, 2019 6:27:56 AM by Alexander Zorevyk
Forecast Details
PairUSDJPY
Direction Buy
StatusClosed (111.8)
6:25
6:25
Apr. 23, 2019

+59 p
112.50
Target 2
+29 p
112.20
Target 1
111.90
Entry
-30 p
111.60
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 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. Downward price movement is accompanied by reversal signals for Profit Ratio.
  4. We see a cluster of stop losses and stop orders right at the level of the previous peak. This is a good level for placing our take profit according to our forecast.