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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 Time10/25/19 7:11 AM
Direction Sell
Status Closed (74.90)
Oct. 25, 2019
Nov. 1, 2019
Forecast
-115 p
75.35
Stop Loss
74.20
Entry
+130 p
72.90
Target 1
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Chart & Analyst Comments

main-sell-market-trend-1
  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.
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