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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 (110.10)
16:20
16:20
May 7, 2019

-55 p
109.80
Stop Loss
110.35
Entry
+50 p
110.85
Target 1
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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