Analysing Forex from The Market side & perspective.
This week in market opening hours USDJPY still in a sideway. but, it successfully stopped out buyer positions at 107.47 in last friday and then going back up for 30 pips. There are accumulated seller positions at 107.90 in high trading volumes. This level has many traders stop losses because they believe that it will become a resistance level and The Market will continue to go down. However in The Market Perspective, after it stopped out buyers positions then it will continue to go up in a high volume to stop out the sellers positions. so, it is better to join The Buyers and catch the trend.
This week in market opening hours USDJPY still in a sideway. but, it successfully stopped out buyer positions at 107.47 in last friday and then going back up for 30 pips. There are accumulated seller positions at 107.90 in high trading volumes. This level has many traders stop losses because they believe that it will become a resistance level and The Market will continue to go down. However in The Market Perspective, after it stopped out buyers positions then it will continue to go up in a high volume to stop out the sellers positions. so, it is better to join The Buyers and catch the trend.
