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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 (105.20)
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
main-sell-market-trend-1
  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.
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