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

Patrick Yang on FXSSI Patrick Yang Expert
main-sell-market-trend-1
Forecast Details
PairUSDJPY
Publication Time2/3/20 8:49 PM
Direction Sell
Status Closed (110.00)
Feb. 3, 2020
Feb. 10, 2020
Forecast
-130 p
110.00
Stop Loss
108.70
Entry
+120 p
107.50
Target 1
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Chart & Analyst Comments

main-sell-market-trend-1
  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.
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