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

July 22, 2019 5:12:08 PM by Patrick Yang
Forecast Details
PairUSDJPY
Direction Sell
StatusClosed (108.8)
Start
End
Jul. 22, 2019
Jul. 29, 2019

-109 p
109.30
Stop Loss
108.20
Entry
+110 p
107.10
Target 1
Chart & Analyst Comments
The market has stabilized, the first signs of a downtrend appeared
  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 going only short at this time.
  2. In this sideways movement, buying prevails in the market crowd. There seem to be a major player interest in a downward movement.
  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.