The market has stabilized, the first signs of a downtrend appeared

June 26, 2019 4:55:28 PM by Alexander Zorevyk
Forecast Details
PairUSDJPY
Direction Sell
StatusClosed (107.3)
16:53
16:53
Jun. 26, 2019

-50 p
107.80
Stop Loss
107.30
Entry
+50 p
106.80
Target 1
Chart & Analyst Comments
The market has stabilized, the first signs of a downtrend appeared

Visually, the price is near the upper border of the sideways movement. We assume that it will not break through and the price will move downwards. A Sell Order is recommended at 107.3. See below for further confirmation of this strategy:

  1. The Current Ratio indicator, which is used for quick market sentiment analysis, provides Sell signal at the moment.
  2. The activity of "fresh" buyers in an uptrend may indicate that the market expects the recovery of the bull trend. However, according to our analysis, this movement is corrective and we expect the price to go down.