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

June 10, 2020 11:57:44 AM by Alex Zarevich
Forecast Details
PairGBPJPY
Direction Buy
StatusClosed (136.15)
11:54
11:54
Jun. 10, 2020

+145 p
138.60
Target 2
+95 p
138.10
Target 1
137.15
Entry
-100 p
136.15
Stop Loss
Chart & Analyst Comments
main-buy-market-trend-1

For today's forecast, we recommend a Buy Order at this recommended market price - 137.15. This idea is based on the following analysis:

  1. The dynamics of the Ratios indicator signals for Long opportunities. Pay attention to the area marked on the image.
  2. When the price decreases, a signal is formed (orange labels), which implies an upward movement.
  3. The increase in sellers is observed both in the upward movement and in the retracement movements. Retail traders still believe in the possibility of price decrease.
  4. Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.
  5. The trade is aimed at the previous high breakout. The SLC indicator signals us to set our target at the level where most Stop Losses are placed - 138.1
    index: 1x 0.062716960906982s
t_/pages/forecast: 1x 0.058937072753906s
t_/common/header-new: 1x 0.039585828781128s
t_/common/head: 1x 0.025305986404419s
t_/common/footer-new: 1x 0.0040349960327148s
router_page: 1x 0.0021629333496094s
router: 1x 0.00098180770874023s
t_/popups/on-download: 1x 0.0008399486541748s
service-routes: 1x 0.00043392181396484s
router_redirection: 1x 0.00020909309387207s
t_/popups/zoom: 1x 2.0027160644531E-5s
----- END OF DUMP (2022-12-09 12:49:12)  -----