USDJPY - Upward trend will continue, Long trade by market price recommended
March 25, 2020 4:59:34 PM
Forecast Details
PairUSDJPY
Direction
Buy
StatusClosed (110.7)
+70 p
112.15
Target 1
111.45
Entry
-75 p
110.70
Stop Loss
About Author
Alexander Zorevyk
Expert
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Total votes: 6
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Chart & Analyst Comments
- 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.
