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

July 12, 2021 12:47:51 PM by Alexander Zorevyk
Forecast Details
PairGBPJPY
Direction Buy
StatusClosed (153.25)
11:49
11:49
Jul. 12, 2021

+90 p
153.55
Target 2
+60 p
153.25
Target 1
152.65
Entry
-65 p
152.00
Stop Loss
Chart & Analyst Comments
GBPJPY - Upward trend will continue, Long trade by market price recommended
  1. According to the most brokers’ data, more than half of the traders are currently in short positions on GBPJPY. As a result, we recommend considering only Long trades at this time.
  2. When the price decreases, a signal is formed (orange labels), which implies an upward movement.
  3. The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
  4. MVP line is below the price and acts as a support level.
  5. The first target is at the level of the previous peak - 153.25, and the second one, in case of an active price increase, is at the level - 153.55