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

Alex Zarevich on FXSSI Alex Zarevich Expert
main-sell-market-trend-1
Forecast Details
PairGBPJPY
Publication Time9/11/19 4:39 PM
Direction Sell
Status Closed (132.20)
16:37
16:37
Sep. 11, 2019
Forecast
-55 p
133.35
Stop Loss
132.80
Entry
+60 p
132.20
Target 1
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Chart & Analyst Comments

main-sell-market-trend-1
  1. Majority of traders are still holding onto Longs. This means we should continue to Sell GBPJPY.
  2. 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.
  3. When the price rises, a signal is formed (orange labels), which implies a downwards movement.
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