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 expect the downward trend to continue. Sell USDJPY. See below for 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 going only short at this time.
  2. MVP line is above the price and acts as a resistance level.
  3. The Profit Ratio indicator is not responding to a downward movement, this means that the movement is valid.
  4. In the right order book, we see the volume of loss buyers above the current price. This cluster can act as a resistance.