USDJPY - Upward trend will continue, Long trade by market price recommended
January 20, 2020 8:16:58 PM
Forecast Details
PairUSDJPY
Direction
Buy
StatusClosed (109.2)
+94 p
111.10
Target 1
110.15
Entry
-95 p
109.20
Stop Loss
About Author
Patrick Yang
Expert
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Chart & Analyst Comments
- The Current Ratio indicator, which is used for quick market sentiment analysis, provides Buy signal at the moment.
- In this sideways movement, retail traders prefer to hold short trades. There seem to be a major player interest in an upward movement.
- MVP line is below the price and acts as a support level.
- Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.
- The price increase will be accompanied by the trigger of market crowd’s stop losses, which in turn will serve as a "fuel" for the upward movement.