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GBPJPY - Downward trend will continue, Short trade by market price recommended

September 16, 2020 7:18:33 AM by Alexander Zorevyk
Forecast Details
PairGBPJPY
Direction Sell
StatusClosed (135.80)
7:17
7:17
Sep. 16, 2020
-90 p
136.70
Stop Loss
135.80
Entry
+80 p
135.00
Target 1
Chart & Analyst Comments
main-sell-market-trend-1
  1. According to the most brokers’ data, more than half of the traders are currently in long positions on GBPJPY. As a result, we recommend considering only Short trades at this time.
  2. In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
  3. When the price rises, a signal is formed (orange labels), which implies a downwards movement.
  4. The price decrease will be accompanied by the trigger of market crowds’ stop losses, which in turn will serve as a "fuel" for the downward movement.
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