The market has stabilized, the first signs of a downtrend appeared
March 17, 2020 10:31:29 AM
Forecast Details
PairUSDJPY
Direction
Sell
StatusClosed (106.25)
-59 p
106.85
Stop Loss
106.25
Entry
+65 p
105.60
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.
- The last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
- We see a sharp increase in buy orders as indicated by a number of brokers, which may indicate an interest of a big market player. We are expecting a downward movement.
- We are setting the take profit of our Sell Order to the closest level with a large number of stop losses.