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

Patrick Yang on FXSSI Patrick Yang Expert
main-sell-market-trend-1
Forecast Details
PairAUDJPY
Publication Time11/15/19 10:04 AM
Direction Sell
Status Closed (73.70)
Nov. 15, 2019
Nov. 22, 2019
Forecast
-195 p
75.65
Stop Loss
73.70
Entry
+190 p
71.80
Target 1
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Chart & Analyst Comments

main-sell-market-trend-1
  1. Majority of traders are still holding onto Longs. This means we should continue to Sell AUDJPY.
  2. The increase in buyers is observed both in the downward movement and in the retracement movements. Retail traders still believe in the possibility of price increase.
  3. Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.
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