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

August 7, 2019 6:18:03 PM by Alexander Zorevyk
Forecast Details
PairUSDJPY
Direction Sell
StatusClosed (105.7)
18:10
18:10
Aug. 7, 2019

-59 p
106.75
Stop Loss
106.15
Entry
+55 p
105.60
Target 1
+90 p
105.25
Target 2
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. The Ratios indicator demonstrates a market shift towards buyers. Their increase while the upward movement may indicate a successfully triggered trap. Possible price downward reversal.
  3. In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
  4. Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.