AUDJPY - Downward trend will continue, Short trade by market price recommended
October 25, 2019 7:11:23 AM
Forecast Details
PairAUDJPY
Direction
Sell
StatusClosed (74.9)
-114 p
75.35
Stop Loss
74.20
Entry
+129 p
72.90
Target 1
About Author
Patrick Yang
Expert
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Chart & Analyst Comments
- 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.
- 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.
- MVP line is above the price and acts as a resistance level.