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

Alex Zarevich on FXSSI Alex Zarevich Expert
main-buy-market-trend-1
Forecast Details
PairUSDJPY
Publication Time3/25/20 4:59 PM
Direction Buy
Status Closed (110.70)
16:53
16:53
Mar. 25, 2020
Forecast
+70 p
112.15
Target 1
111.45
Entry
-75 p
110.70
Stop Loss
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Chart & Analyst Comments

main-buy-market-trend-1
  1. Majority of traders are still holding onto Shorts. This means we should continue to Buy USDJPY.
  2. Analyzing the positions ratio, we see that most traders are currently in Shorts, which also combines with the original idea.
  3. Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.
  4. 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.
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