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USDJPY - Downward trend will continue, Short trade by market price recommended

January 18, 2021 11:30:26 AM by Alexander Zorevyk
Forecast Details
PairUSDJPY
Direction Sell
StatusClosed (103.90)
11:28
11:28
Jan. 18, 2021

-65 p
104.40
Stop Loss
103.75
Entry
+60 p
103.15
Target 1
Chart & Analyst Comments
main-sell-market-trend-1
  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. In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
  3. MVP line is above the price and acts as a resistance level.
  4. 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.
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