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

February 3, 2020 8:49:20 PM by Patrick Yang
Forecast Details
PairUSDJPY
Direction Sell
StatusClosed (110)
Start
End
Feb. 3, 2020
Feb. 10, 2020

-129 p
110.00
Stop Loss
108.70
Entry
+120 p
107.50
Target 1
Chart & Analyst Comments
USDJPY - Downward trend will continue, Short trade by market price recommended
  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. In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
  3. MVP line is above the price and acts as a resistance level.
  4. Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.