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

May 18, 2020 5:13:10 PM by Alexander Zorevyk
Forecast Details
PairUSDJPY
Direction Sell
StatusClosed (107.80)
17:11
17:11
May 18, 2020
-55 p
107.80
Stop Loss
107.25
Entry
+55 p
106.70
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. The last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
  3. When the price rises, a signal is formed (orange labels), which implies a downwards movement.
  4. We see an accumulation of loss buyers above the current price in the right Order Book. This cluster can act as a resistance.
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