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

July 11, 2019 4:38:29 PM by Alexander Zorevyk
Forecast Details
PairUSDJPY
Direction Sell
StatusClosed (107.90)
16:13
16:13
Jul. 11, 2019

-50 p
108.95
Stop Loss
108.45
Entry
+55 p
107.90
Target 1
+85 p
107.60
Target 2
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 activity of "fresh" buyers in an uptrend may indicate that the market expects the recovery of the bull trend. However, according to our analysis, this movement is corrective and we expect the price to go down.
  3. The Profit Ratio reversal indicator doesn't react on downward movement. This means that the movement is not fake.
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