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

October 25, 2019 7:11:23 AM by Patrick Yang
Forecast Details
PairAUDJPY
Direction Sell
StatusClosed (74.9)
Start
End
Oct. 25, 2019
Nov. 1, 2019

-114 p
75.35
Stop Loss
74.20
Entry
+129 p
72.90
Target 1
Chart & Analyst Comments
AUDJPY - Downward trend will continue, Short trade by market price recommended
  1. According to the most brokers’ data, more than half of the traders are currently in long positions on AUDJPY. As a result, we recommend considering only Short trades at this time.
  2. There is an increase in the number of bulls on the upward movement, followed by correction. We consider this movement as a trap for buyers and look forward for a continuation of the downtrend.
  3. MVP line is above the price and acts as a resistance level.