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 to Sell AUDJPY.
  2. Upward price movement is accompanied by reversal signals of Profit Ratio indicator.
  3. 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.
  4. 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.