GBPJPY - Upward trend will continue, Long trade by market price recommended
August 3, 2021 4:28:13 PM
Forecast Details
PairGBPJPY
Direction
Buy
StatusClosed (152.5)
+80 p
152.50
Target 2
+55 p
152.25
Target 1
151.70
Entry
-55 p
151.15
Stop Loss
About Author
Alexander Zorevyk
Expert
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Total votes: 2
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Chart & Analyst Comments
- 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.
- When the price decreases, a signal is formed (orange labels), which implies an upward movement.
- The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
- 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
