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

May 7, 2021 12:06:05 PM by Alexander Zorevyk
Forecast Details
PairGBPJPY
Direction Buy
StatusClosed (152.7)
11:55
11:55
May 7, 2021

+100 p
152.70
Target 2
+70 p
152.40
Target 1
151.70
Entry
-75 p
150.95
Stop Loss
Chart & Analyst Comments
GBPJPY - Upward trend will continue, Long trade by market price recommended
  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. The number of profitable buyers has exceeded 75%. The uptrend is in its active phase. This confirms potential for a Long trade.
  3. In this sideways movement, retail traders prefer to hold short trades. There seem to be a major player interest in an upward movement.
  4. MVP line is below the price and acts as a support level.
  5. The first target is at the level of the previous peak - 152.4, and the second one, in case of an active price increase, is at the level - 152.7