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

March 3, 2020 2:11:35 PM by Alexander Zorevyk
Forecast Details
PairUSDJPY
Direction Sell
StatusClosed (107)
14:09
14:09
Mar. 3, 2020

-65 p
108.40
Stop Loss
107.75
Entry
+75 p
107.00
Target 1
Chart & Analyst Comments
USDJPY - Downward trend will continue, Short trade by market price recommended
  1. The Current Ratio indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
  2. In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
  3. The dynamics of the Ratios indicator signals for Short opportunities. Pay attention to the area marked on the image.
  4. The idea of ​​this Sell forecast is based on a long-term downtrend, which is confirmed by the MVP indicator dynamics.
  5. Here is the crucial stop loss level to serve as a goal for our Sell trade idea.