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

August 8, 2019 7:37:52 PM by Alexander Zorevyk
Forecast Details
PairGBPJPY
Direction Sell
StatusClosed (128)
19:31
19:31
Aug. 8, 2019

-65 p
129.30
Stop Loss
128.65
Entry
+65 p
128.00
Target 1
+95 p
127.70
Target 2
Chart & Analyst Comments
GBPJPY - Downward trend will continue, Short trade by market price recommended
  1. The Current Ratio indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
  2. We are seeing an increase in Buy positions by market crowd, who are replenishing an already large number of "locked up" losing Buy positions.
  3. The first target is at the level of the previous bottom - 128, and the second one, in case of an active price decrease, is at the level - 127.7