The market has stabilized, the first signs of a downtrend appeared

August 15, 2019 7:21:04 PM by Alexander Zorevyk
Forecast Details
PairUSDJPY
Direction Sell
StatusClosed (105.7)
19:12
19:12
Aug. 15, 2019

-70 p
106.40
Stop Loss
105.70
Entry
+70 p
105.00
Target 1
Chart & Analyst Comments
The market has stabilized, the first signs of a downtrend appeared
  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 going only short at this time.
  2. When the price rises, a signal is formed (orange labels), which implies a downwards movement.
  3. The increase in buyers is observed both in the downward movement and in the corrective movements. Retail traders still believe in the possibility of rising prices.
  4. The price decrease will be accompanied by trigger of market crowds’ stop losses, which in turn will serve as a "fuel" for downward movement.