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

July 30, 2019 12:13:29 PM by Alexander Zorevyk
Forecast Details
PairUSDJPY
Direction Buy
StatusClosed (108.71)
12:08
12:08
Jul. 30, 2019

+70 p
109.20
Target 2
+50 p
109.00
Target 1
108.50
Entry
-50 p
108.00
Stop Loss
Chart & Analyst Comments
main-buy-market-trend-1
  1. The decrease in the buyers volume, together with the increase in the sellers volume, confirms the need to Buy, according to our trading idea.
  2. We see a sharp increase in sell orders as indicated by a number of brokers, which may indicate an interest of a big market player. We are expecting an upward movement.
  3. In the left orderbook, 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 take profit according to our forecast.
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