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

September 11, 2019 4:39:36 PM by Alexander Zorevyk
Forecast Details
PairGBPJPY
Direction Sell
StatusClosed (132.2)
16:37
16:37
Sep. 11, 2019

-54 p
133.35
Stop Loss
132.80
Entry
+60 p
132.20
Target 1
Chart & Analyst Comments
GBPJPY - Downward trend will continue, Short trade by market price recommended
  1. Majority of traders are still holding onto longs. This means we should continue selling GBPJPY.
  2. The activity of "fresh" buyers in an uptrend may indicate that the market is waiting for 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.