USDJPY - Downward trend will continue, Short trade by market price recommended
September 22, 2020 8:39:49 AM
Forecast Details
PairUSDJPY
Direction
Sell
StatusClosed (105.25)
-65 p
105.25
Stop Loss
104.60
Entry
+50 p
104.10
Target 1
+70 p
103.90
Target 2
About Author
Alexander Zorevyk
Expert
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Total votes: 5
Buy or Sell
Chart & Analyst Comments
- The Current Ratio indicator, which is used for quick market sentiment analysis, provides Sell signal at the moment.
- The last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
- MVP line is above the price and acts as a resistance level.
- The first target is at the level of the previous bottom - 104.1, and the second one, in case of an active price decrease, is at the level - 103.9
