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

December 9, 2021 6:49:44 PM by Alexander Zorevyk
Forecast Details
PairGBPJPY
Direction Sell
StatusClosed (150.80)
18:45
18:45
Dec. 9, 2021

-80 p
150.80
Stop Loss
150.00
Entry
+75 p
149.25
Target 1
+100 p
149.00
Target 2
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. When the price rises, a signal is formed (orange labels), which implies a downwards movement.
  3. In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
  4. MVP line is above the price and acts as a resistance level.
  5. The first target is at the level of the previous bottom - 149.25, and the second one, in case of an active price decrease, is at the level - 149
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