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

October 14, 2020 7:33:09 AM by Alexander Zorevyk
Forecast Details
PairUSDJPY
Direction Sell
StatusClosed (105.2)
7:23
7:23
Oct. 14, 2020

-65 p
106.15
Stop Loss
105.50
Entry
+65 p
104.85
Target 1
Chart & Analyst Comments
USDJPY - Downward trend will continue, Short trade by market price recommended
  1. The Current Ratio indicator, which is used for quick market sentiment analysis, provides Sell signal at the moment.
  2. The last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
  3. MVP line is above the price and acts as a resistance level.
  4. We are focused on the breakdown of the previous bottom, the target at the level of 104.85.