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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Total votes: 12
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Chart & Analyst Comments
We expect the downward trend to continue. Sell USDJPY. See below for 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 going only short at this time.
- MVP line is above the price and acts as a resistance level.
- The Profit Ratio indicator is not responding to a downward movement, this means that the movement is valid.
- In the right order book, we see the volume of loss buyers above the current price. This cluster can act as a resistance.