The market has stabilized, the first signs of a downtrend appeared
May 27, 2019 4:52:26 PM
Forecast Details
PairUSDJPY
Direction
Sell
StatusClosed (108.75)
-84 p
110.60
Stop Loss
109.75
Entry
+100 p
108.75
Target 1
About Author
Patrick Yang
Expert
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Chart & Analyst Comments
We are expecting downward trend to continue for USDJPY currency pair. Short trades only. See below for the summary of analysis:
- 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.
- MVP line is above the price and acts as a resistance level.
- The Profit Ratio reversal indicator doesn't react on downward movement. This means that the movement is not fake.
- We see an accumulation of loss buyers above the current price in the right Order Book. This cluster can act as a resistance.
