GBPJPY - Downward trend will continue, Short trade by market price recommended
September 16, 2020 7:18:33 AM
Forecast Details
PairGBPJPY
Direction
Sell
StatusClosed (135.8)
-90 p
136.70
Stop Loss
135.80
Entry
+80 p
135.00
Target 1
About Author
Alexander Zorevyk
Expert
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Chart & Analyst Comments
- 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.
- In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
- When the price rises, a signal is formed (orange labels), which implies a downwards movement.
- 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.
