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

May 27, 2019 4:52:26 PM by Patrick Yang
Forecast Details
PairUSDJPY
Direction Sell
StatusClosed (108.75)
Start
End
May 27, 2019
Jun. 3, 2019

-84 p
110.60
Stop Loss
109.75
Entry
+100 p
108.75
Target 1
Chart & Analyst Comments
The market has stabilized, the first signs of a downtrend appeared

We are expecting downward trend to continue for USDJPY currency pair. Short trades only. See below for the summary of 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 Profit Ratio reversal indicator doesn't react on downward movement. This means that the movement is not fake.
  4. We see an accumulation of loss buyers above the current price in the right Order Book. This cluster can act as a resistance.