The market has stabilized, the first signs of a downtrend appeared
August 15, 2019 7:21:04 PM
Forecast Details
PairUSDJPY
Direction
Sell
StatusClosed (105.7)
-70 p
106.40
Stop Loss
105.70
Entry
+70 p
105.00
Target 1
About Author
Alexander Zorevyk
Expert
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Chart & Analyst Comments
- 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.
- When the price rises, a signal is formed (orange labels), which implies a downwards movement.
- The increase in buyers is observed both in the downward movement and in the retracement movements. Retail traders still believe in the possibility of price increase.
- The price decrease will be accompanied by the trigger of market crowds’ stop losses, which in turn will serve as a "fuel" for the downward movement.