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

August 28, 2019 7:29:54 PM by Alexander Zorevyk
Forecast Details
PairUSDJPY
Direction Sell
StatusClosed (105.6)
19:28
19:28
Aug. 28, 2019

-60 p
106.20
Stop Loss
105.60
Entry
+59 p
105.00
Target 1
Chart & Analyst Comments
The market has stabilized, the first signs of a downtrend appeared
  1. Majority of traders are still holding onto Longs. This means we should continue to Sell USDJPY.
  2. In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
  3. Here is the crucial stop loss level to serve as a goal for our Sell trade idea.