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GBPJPY - Upward trend will continue, Long trade by market price recommended

March 2, 2021 4:11:18 PM by Alexander Zorevyk
Forecast Details
PairGBPJPY
Direction Buy
StatusClosed (149.60)
16:09
16:09
Mar. 2, 2021

+105 p
149.90
Target 2
+75 p
149.60
Target 1
148.85
Entry
-70 p
148.15
Stop Loss
Chart & Analyst Comments
main-buy-market-trend-1
  1. According to the most brokers’ data, more than half of the traders are currently in short positions on GBPJPY. As a result, we recommend considering only Long trades at this time.
  2. In this sideways movement, retail traders prefer to hold short trades. There seem to be a major player interest in an upward movement.
  3. The number of profitable buyers has exceeded 75%. The uptrend is in its active phase. This confirms potential for a Long trade.
  4. The first target is at the level of the previous peak - 149.6, and the second one, in case of an active price increase, is at the level - 149.9
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