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

April 30, 2020 8:04:40 AM by Alexander Zorevyk
Forecast Details
PairUSDJPY
Direction Sell
StatusClosed (106.70)
8:02
8:02
Apr. 30, 2020

-60 p
107.60
Stop Loss
107.00
Entry
+60 p
106.40
Target 1
+80 p
106.20
Target 2
Chart & Analyst Comments
main-sell-trend-2

For this forecast, we recommend to set Sell Limit at the following price - 107. This idea is based on the following analysis:

  1. 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.
  2. MVP line is above the price and acts as a resistance level.
  3. The last downward movement has brought a volume of sellers, which implies a small price correction. Enter the deal with a Sell Limit order.
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