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

September 22, 2020 8:39:49 AM by Alexander Zorevyk
Forecast Details
PairUSDJPY
Direction Sell
StatusClosed (105.25)
8:38
8:38
Sep. 22, 2020

-65 p
105.25
Stop Loss
104.60
Entry
+50 p
104.10
Target 1
+70 p
103.90
Target 2
Chart & Analyst Comments
main-sell-market-trend-1
  1. The Current Ratio indicator, which is used for quick market sentiment analysis, provides Sell signal at the moment.
  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. MVP line is above the price and acts as a resistance level.
  4. 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
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