GBPJPY - Downward trend will continue, Short trade by market price recommended
September 11, 2019 4:39:36 PM
Forecast Details
PairGBPJPY
Direction
Sell
StatusClosed (132.2)
-54 p
133.35
Stop Loss
132.80
Entry
+60 p
132.20
Target 1
About Author
Alexander Zorevyk
Expert
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Chart & Analyst Comments
- Majority of traders are still holding onto Longs. This means we should continue to Sell GBPJPY.
- The activity of "fresh" buyers in an uptrend may indicate that the market expects the recovery of the bull trend. However, according to our analysis, this movement is corrective and we expect the price to go down.
- When the price rises, a signal is formed (orange labels), which implies a downwards movement.