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

August 10, 2021 4:21:08 AM by Alexander Zorevyk
Forecast Details
PairGBPJPY
Direction Buy
StatusClosed (153.25)
4:19
4:19
Aug. 10, 2021

+70 p
153.45
Target 2
+50 p
153.25
Target 1
152.75
Entry
-55 p
152.20
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. When the price decreases, a signal is formed (orange labels), which implies an upward movement.
  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 - 153.25, and the second one, in case of an active price increase, is at the level - 153.45