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GBPJPY - Downward trend will continue, Short trade by market price recommended

Alex Zarevich on FXSSI Alex Zarevich Expert
main-sell-market-trend-1
Forecast Details
PairGBPJPY
Publication Time5/5/20 6:49 AM
Direction Sell
Status Closed (132.20)
6:48
6:48
May 5, 2020
Forecast
-70 p
133.60
Stop Loss
132.90
Entry
+70 p
132.20
Target 1
+110 p
131.80
Target 2
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Chart & Analyst Comments

main-sell-market-trend-1
  1. According to the most brokers’ data, more than half of the traders are currently in long positions on GBPJPY. As a result, we recommend considering only Short trades at this time.
  2. MVP line is above the price and acts as a resistance level.
  3. The first target is at the level of the previous bottom - 132.2, and the second one, in case of an active price decrease, is at the level - 131.8
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