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