AUDJPY - Downward trend will continue, Short trade by market price recommended

July 25, 2019 6:09:12 PM by Alexander Zorevyk
Forecast Details
PairAUDJPY
Direction Sell
StatusClosed (74.9)
18:08
18:08
Jul. 25, 2019

-60 p
76.10
Stop Loss
75.50
Entry
+60 p
74.90
Target 1
Chart & Analyst Comments
AUDJPY - Downward trend will continue, Short trade by market price recommended

We are expecting downward trend to continue for AUDJPY currency pair. Short trades only. See below for the summary of analysis:

  1. Majority of traders are still holding onto Longs. This means we should continue to Sell AUDJPY.
  2. The last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
  3. MVP line is above the price and acts as a resistance level.
  4. Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.