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

May 28, 2019 7:43:39 PM by Alexander Zorevyk
Forecast Details
PairUSDJPY
Direction Sell
StatusClosed (109.68)
19:28
19:28
May 28, 2019

-55 p
109.75
Stop Loss
109.20
Entry
+50 p
108.70
Target 1
Chart & Analyst Comments
USDJPY - Downward trend will continue, Short trade by market price recommended

The downwards scenario is quite obvious, but the presence of a large number of "fellow travelers" will not allow the price to immediately go down. We expect a false move up and afterwards set up a Sell Limit.

  1. The Current Ratio indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
  2. The Profit Ratio reversal indicator doesn't react on downward movement. This means that the movement is not fake.
  3. According to the Trading Activity indicator, there is a lot of Bullish activity near the resistance level. They are probably waiting for the level to be broken down.
  4. Here is the crucial stop loss level to serve as a goal for our Sell trade idea.