In one of my study, the direct effect of moderator on Y variable is positive and effect of X on Y is negative. But the moderating effect (X* Moderator) on Y is negative. How can we explain this?
In your case, the relationship between X and Y is further dampened by the moderator. Now time to refer to the theory and conceptuality of the variables used. If it makes sense for the moderator to further dampen the already negative relationship between X and Y variables them it's good.