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

May 7, 2019 4:22:40 PM by Alexander Zorevyk
Forecast Details
PairUSDJPY
Direction Sell
StatusClosed (110.1)
16:20
16:20
May 7, 2019

-54 p
109.80
Stop Loss
110.35
Entry
+50 p
110.85
Target 1
Chart & Analyst Comments
USDJPY - Downward trend will continue, Short trade by market price recommended
  1. 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 going only short at this time.
  2. The Profit Ratio indicator is not responding to a downward movement, this means that the movement is valid.
  3. The activity of "fresh" buyers in a downward movement may indicate that the market crowd still does not believe in a bearish trend.
  4. In the right order book, we see the volume of loss buyers above the current price. This cluster can act as a resistance.