- Majority of traders are still holding onto Shorts. This means we should continue to Buy USDJPY.
- Analyzing the positions ratio, we see that most traders are currently in Shorts, which also combines with the original idea.
- Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.
- These accumulation of retail traders stop losses coincide with the level of the previous high. This level will serve as the target for our trade.