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

May 5, 2020 6:49:40 AM by Alexander Zorevyk
Forecast Details
PairGBPJPY
Direction Sell
StatusClosed (132.2)
6:48
6:48
May 5, 2020

-69 p
133.60
Stop Loss
132.90
Entry
+70 p
132.20
Target 1
+109 p
131.80
Target 2
Chart & Analyst Comments
GBPJPY - Downward trend will continue, Short trade by market price recommended
  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