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

June 15, 2022 8:14:43 AM by Alexander Zorevyk
Forecast Details
PairGBPJPY
Direction Buy
StatusClosed (163.50)
8:14
8:14
Jun. 15, 2022

+100 p
163.50
Target 1
162.50
Entry
-75 p
161.75
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. When the price decreases, a signal is formed (orange labels), which implies an upward movement.
  3. There is an increase in the number of bears on the downward movement, followed by correction. We consider this movement as a trap for sellers and look forward for a continuation of the uptrend.
  4. In the left orderbook, we see a cluster of stop losses and stop orders right at the level of the previous peak. This is a good level for placing take profit according to our forecast.
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