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

August 16, 2019 10:18:23 AM by Patrick Yang
Forecast Details
PairAUDJPY
Direction Sell
StatusClosed (71.1)
Start
End
Aug. 16, 2019
Aug. 23, 2019

-120 p
73.30
Stop Loss
72.10
Entry
+109 p
71.00
Target 1
+159 p
70.50
Target 2
Chart & Analyst Comments
AUDJPY - Downward trend will continue, Short trade by market price recommended
  1. Majority of traders are still holding onto longs. This means we should continue selling AUDJPY.
  2. Price increase is accompanied by reversal signals for Profit Ratio.
  3. The increase in buyers is observed both in the downward movement and in the corrective movements. Retail traders still believe in the possibility of rising prices.
  4. The price decrease will be accompanied by trigger of market crowds’ stop losses, which in turn will serve as a "fuel" for downward movement.