- 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.
- When the price rises, a signal is formed (orange labels), which implies a downwards movement.
- In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
- MVP line is above the price and acts as a resistance level.
- 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
GBPJPY - Downward trend will continue, Short trade by market price recommended
December 9, 2021 6:49:44 PM
Forecast Details
PairGBPJPY
Direction
Sell
StatusClosed (150.80)
-80 p
150.80
Stop Loss
150.00
Entry
+75 p
149.25
Target 1
+100 p
149.00
Target 2
Chart & Analyst Comments
