USDJPY - Downward trend will continue, Short trade by market price recommended
February 3, 2020 8:49:20 PM
Forecast Details
PairUSDJPY
Direction
Sell
StatusClosed (110)
-130 p
110.00
Stop Loss
108.70
Entry
+120 p
107.50
Target 1
About Author
Patrick Yang
Expert
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Total votes: 3
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Chart & Analyst Comments
- 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.
- In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
- MVP line is above the price and acts as a resistance level.
- Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.
