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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
main-buy-market-trend-1
  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
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