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

March 25, 2020 4:59:34 PM by Alexander Zorevyk
Forecast Details
PairUSDJPY
Direction Buy
StatusClosed (110.7)
16:53
16:53
Mar. 25, 2020

+70 p
112.15
Target 1
111.45
Entry
-75 p
110.70
Stop Loss
Chart & Analyst Comments
USDJPY - Upward trend will continue, Long trade by market price recommended
  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.