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

November 21, 2019 8:34:34 AM by Alexander Zorevyk
Forecast Details
PairUSDJPY
Direction Sell
StatusClosed (108.55)
8:30
8:30
Nov. 21, 2019

-54 p
109.10
Stop Loss
108.55
Entry
+54 p
108.00
Target 1
Chart & Analyst Comments
USDJPY - Downward trend will continue, Short trade by market price recommended

For today's forecast, we recommend a Sell Order at this recommended market price - 108.55. This idea is based on the following analysis:

  1. The Current Ratio indicator, which is used for quick market sentiment analysis, provides Sell signal at the moment.
  2. The activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.