Extreme trader sentiment points to possible USDJPY uptrend BUY

Time Issued: Friday, 12 April 2019 09:00:15 GMT
Status: open
Entry: 111.818 - 112.04
Limit: N/A
Stop Loss: 111.486

The Trend Follower Strategy has just bought USDJPY at 111.929. The system recommends entering this trade at any price between 111.818 and 112.04. The signal was issued because our Speculative Sentiment Index is extremely positive, with a value of -1.505. This suggests that the USDJPY could be trending upwards.The 14-period Average True Range on a daily chart is 0.443, so the stop loss has been set at 111.486. This stop loss order is a trailing stop that will move up as the market moves up. There is no profit target for this strategy. We expect to be closed by the stop loss.Trend Follower is a trend trading strategy that aims to buy and hold rising currency pairs and to sell short and hold falling currency pairs. The strategy looks to buy when the Speculative Sentiment Index is below -1.5, and looks to short when it is above +1.5.