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

Alex Zarevich on FXSSI Alex Zarevich Expert
main-sell-market-trend-1
Forecast Details
PairUSDJPY
Publish Time5/7/19 4:22 PM
Direction Sell
Status Closed (110.10)
16:20
16:20
May 7, 2019
Forecast
-55 p
109.80
Stop Loss
110.35
Entry
+50 p
110.85
Target 1
Related Links
How to use MT4/5 Indicators Tools

Chart & Analyst Comments

main-sell-market-trend-1
  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 only Short trades at this time.
  2. The Profit Ratio reversal indicator doesn't react on downward movement. This means that the movement is not fake.
  3. The activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
  4. We see an accumulation of loss buyers above the current price in the right Order Book. This cluster can act as a resistance.
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