USDJPY - Downward trend will continue, Short trade by market price recommended
March 3, 2020 2:11:35 PM
Forecast Details
PairUSDJPY
Direction
Sell
StatusClosed (107)
-65 p
108.40
Stop Loss
107.75
Entry
+75 p
107.00
Target 1
About Author
Alexander Zorevyk
Expert
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Chart & Analyst Comments
- The Current Ratio indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
- In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
- The dynamics of the Ratios indicator signals for Short opportunities. Pay attention to the area marked on the image.
- The idea of this Sell forecast is based on a long-term downtrend, which is confirmed by the MVP indicator dynamics.
- Here is the crucial stop loss level to serve as a goal for our Sell trade idea.