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

March 17, 2020 10:31:29 AM by Alexander Zorevyk
Forecast Details
PairUSDJPY
Direction Sell
StatusClosed (106.25)
10:20
10:20
Mar. 17, 2020

-59 p
106.85
Stop Loss
106.25
Entry
+65 p
105.60
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 only Short trades at this time.
  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. 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.
  4. We are setting the take profit of our Sell Order to the closest level with a large number of stop losses.