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

January 12, 2022 9:53:28 AM by Alexander Zorevyk
Forecast Details
PairGBPJPY
Direction Buy
StatusClosed (157.35)
9:49
9:49
Jan. 12, 2022

+105 p
158.20
Target 2
+75 p
157.90
Target 1
157.15
Entry
-65 p
156.50
Stop Loss
Chart & Analyst Comments
main-buy-market-trend-1
  1. The Current Ratio indicator have reached a critical value, too many traders expect a downward movement. In this case, we recommend to Buy only.
  2. The number of profitable buyers has exceeded 75%. The uptrend is in its active phase. This confirms potential for a Long trade.
  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. The MVP indicator shows the uptrend. We take this into account as one of the important factors in today's forecast.
  5. The first target is at the level of the previous peak - 157.9, and the second one, in case of an active price increase, is at the level - 158.2
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