USDJPY - Downward trend will continue, Short trade using pending order recommended

February 13, 2019 8:11:18 AM by Alexander Zorevyk
Forecast Details
PairUSDJPY
Direction Buy
StatusClosed (110.5)
6:00
6:00
Feb. 13, 2019

+40 p
110.90
Target 1
110.50
Entry
-40 p
110.10
Stop Loss
Chart & Analyst Comments
USDJPY - Downward trend will continue, Short trade using pending order recommended
  1. The Current Ratio indicator have reached a critical value, too many traders expect a downward movement. In this case, we recommend to Buy only.
  2. The Ratios indicator shows the change in the ratio of market players towards sellers. Their increase while the uptrend may indicate the activity of averaging traders. This can serve as "fuel" for further uptrend.
  3. The Profit Ratio reversal indicator doesn't react on upward movement. This means that the movement is not fake.
  4. The last upward movement has brought a volume of buyers, which implies a small price correction. Enter the deal with a Buy Limit order.
  5. These accumulation of retail traders stop losses coincide with the level of the previous high. This level will serve as the target for our trade.