USDJPY - Downward trend will continue, Short trade by market price recommended
February 27, 2020 7:24:12 AM
Forecast Details
PairUSDJPY
Direction
Sell
StatusClosed (109.6)
-60 p
110.75
Stop Loss
110.15
Entry
+55 p
109.60
Target 1
About Author
Alexander Zorevyk
Expert
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Total votes: 5
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Chart & Analyst Comments
- According to the most brokers’ data, more than half of the traders are currently in long positions on USDJPY. As a result, we recommend considering only Short trades at this time.
- The Ratios indicator shows the change in the ratio of market players towards buyers. Their increase while the downtrend may indicate the activity of averaging traders. This can serve as "fuel" for further downtrend.
- The last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
- Here is the crucial stop loss level to serve as a goal for our Sell trade idea.
