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The market has stabilized, the first signs of an uptrend appeared

February 16, 2022 7:04:50 PM by Alexander Zorevyk
Forecast Details
PairGBPJPY
Direction Buy
StatusClosed (156.75)
19:03
19:03
Feb. 16, 2022

+90 p
157.50
Target 2
+60 p
157.20
Target 1
156.60
Entry
-60 p
156.00
Stop Loss
Chart & Analyst Comments
main-buy-trend-2
  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. The activity of "fresh" bears while the upward movement may indicate that the market crowd still does not believe in a Bullish trend.
  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 - 157.2, and the second one, in case of an active price increase, is at the level - 157.5
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