USDJPY LONG on Order Flow - Follow the smart money!

106
Strong Bullish Signal:
The pair showed a sharp growth and broke out the previous level of resistance. The surge was supported by the immense volume and positive delta, which indicates a huge purchases imbalance.
Volume Zones:
We need to allocate the new volume level of support 108.20-108.42.
Sentiment:
This indicator shows that 65% retails traders are in short positions, which is a good additional signal for us (trading against the "crowd").
https://b.radikal.ru/b05/2006/aa/37a5cb28696b.png
Consider Long Positions:
Given all these factors, should prefer a scenario of opening long positions. We may enter the market after a smooth downward correction, in order to get a more profitable entry point. A stop loss should be placed below the support level.
Profit Potential:
Around 100-110 points.

To learn more about order flow based volume trading, sentiment analysis and trading against the retail crowd see the educational article below -
Profiting from Order Flow: How to follow the Institutional Money

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.