AUDJPY - Downward trend will continue, Short trade by market price recommended
July 23, 2019 7:10:26 PM
Forecast Details
PairAUDJPY
Direction
Sell
StatusClosed (75.35)
-45 p
76.25
Stop Loss
75.80
Entry
+45 p
75.35
Target 1
About Author
Alexander Zorevyk
Expert
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Chart & Analyst Comments
- According to the most brokers’ data, more than half of the traders are currently in long positions on AUDJPY. As a result, we recommend considering only Short trades at this time.
- The activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
- MVP line is above the price and acts as a resistance level.
- We are setting Stop Loss for our Sell trade at the level with the lowest amount of stop losses of other market participants.
