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

August 3, 2021 4:28:13 PM by Alexander Zorevyk
Forecast Details
Direction Buy
StatusClosed (152.50)
Aug. 3, 2021

+80 p
Target 2
+55 p
Target 1
-55 p
Stop Loss
Chart & Analyst Comments
  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. When the price decreases, a signal is formed (orange labels), which implies an upward movement.
  3. The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
  4. The first target is at the level of the previous peak - 152.25, and the second one, in case of an active price increase, is at the level - 152.5
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