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 band of the range movement. We assume that it will not be broken through and the price will move downwards. We recommend a sell order for at 107.3. See factors that support this assumption:

  1. The Current Ratios indicator, which is used to quickly assess market sentiment, currently signals sell.
  2. The activity of "fresh" buyers in an uptrend may indicate that the market is waiting for the recovery of the bull trend. However, according to our analysis, this movement is corrective and we expect the price to go down.