AUDJPY - Downward trend will continue, Short trade by market price recommended
July 25, 2019 6:09:12 PM
Forecast Details
PairAUDJPY
Direction
Sell
StatusClosed (74.9)
-59 p
76.10
Stop Loss
75.50
Entry
+59 p
74.90
Target 1
About Author
Alexander Zorevyk
Expert
Related Links
Buy or Sell
More Pairs
Thanks for Voting!
Buy
Sell
Look like you are with the Crowd.
Fix it with Sentiment Strategy
Fix it with Sentiment Strategy
Congratulations! According to Sentiment Strategy you’ve made a right
decision.
You've already voted this pair. You can vote again later (when?) or try voting other
pair.
Total votes: 0
Buy or Sell
Chart & Analyst Comments
We are expecting downward trend to continue for AUDJPY currency pair. Short trades only. See below for the summary of analysis:
- Majority of traders are still holding onto Longs. This means we should continue to Sell AUDJPY.
- The last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
- MVP line is above the price and acts as a resistance level.
- Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.
