AUDJPY - Downward trend will continue, Short trade by market price recommended
August 16, 2019 10:18:23 AM
Forecast Details
PairAUDJPY
Direction
Sell
StatusClosed (71.1)
-120 p
73.30
Stop Loss
72.10
Entry
+109 p
71.00
Target 1
+159 p
70.50
Target 2
About Author
Patrick Yang
Expert
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Chart & Analyst Comments
- Majority of traders are still holding onto Longs. This means we should continue to Sell AUDJPY.
- Upward price movement is accompanied by reversal signals of Profit Ratio indicator.
- 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.
- The price decrease will be accompanied by the trigger of market crowds’ stop losses, which in turn will serve as a "fuel" for the downward movement.