The market has stabilized, the first signs of a downtrend appeared
April 30, 2020 8:04:40 AM
Forecast Details
PairUSDJPY
Direction
Sell
StatusClosed (106.7)
-60 p
107.60
Stop Loss
107.00
Entry
+60 p
106.40
Target 1
+80 p
106.20
Target 2
About Author
Alexander Zorevyk
Expert
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Chart & Analyst Comments
For this forecast, we recommend to set Sell Limit at the following price - 107. This idea is based on the following analysis:
- 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.
- MVP line is above the price and acts as a resistance level.
- The last downward movement has brought a volume of sellers, which implies a small price correction. Enter the deal with a Sell Limit order.
