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

February 5, 2018 6:41:52 AM by Alexander Zorevyk
Forecast Details
PairUSDJPY
Direction Sell
StatusClosed (109.8)
6:21
6:00
Feb. 5, 2018

-31 p
110.35
Stop Loss
110.04
Entry
+24 p
109.80
Target 1
+39 p
109.65
Target 2
Chart & Analyst Comments
USDJPY - Downward trend will continue, Short trade by market price recommended
  1. We see an accumulation of loss buyers above the current price in the right Order Book. This cluster can act as a resistance.
  2. MVP line is above the price and acts as a resistance level.
  3. According to the most brokers’ data, more than half of the traders are currently in long positions on USDJPY. As a result, we recommend considering only Short trades at this time.